Cambridge Advisors Inc. Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Cambridge Advisors Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.0% during the first quarter, Holdings Channel reports. The institutional investor owned 6,862 shares of the financial services provider’s stock after buying an additional 680 shares during the period. Cambridge Advisors Inc.’s holdings in Wells Fargo & Company were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $25,000. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 3.4 %

NYSE:WFC opened at $59.39 on Friday. The stock has a fifty day moving average price of $59.55 and a 200 day moving average price of $55.04. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The firm has a market cap of $207.03 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Compass Point reissued a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $59.15.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.