Delpha Capital Management LLC Boosts Position in Wells Fargo & Co (WFC)

Delpha Capital Management LLC increased its position in shares of Wells Fargo & Co (NYSE:WFC) by 556.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,152 shares of the financial services provider’s stock after buying an additional 9,453 shares during the quarter. Delpha Capital Management LLC’s holdings in Wells Fargo & Co were worth $584,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. M3F Inc. grew its stake in Wells Fargo & Co by 31.2% in the first quarter. M3F Inc. now owns 101,000 shares of the financial services provider’s stock valued at $5,293,000 after purchasing an additional 24,000 shares in the last quarter. Stelac Advisory Services LLC grew its stake in Wells Fargo & Co by 99.3% in the first quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 1,784 shares in the last quarter. First Allied Advisory Services Inc. grew its stake in Wells Fargo & Co by 2.4% in the first quarter. First Allied Advisory Services Inc. now owns 71,811 shares of the financial services provider’s stock valued at $3,758,000 after purchasing an additional 1,691 shares in the last quarter. Harbor Advisors LLC grew its stake in Wells Fargo & Co by 75.0% in the first quarter. Harbor Advisors LLC now owns 17,500 shares of the financial services provider’s stock valued at $917,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Wealth Advisors of Tampa Bay LLC grew its stake in Wells Fargo & Co by 4.3% in the first quarter. Wealth Advisors of Tampa Bay LLC now owns 47,924 shares of the financial services provider’s stock valued at $2,515,000 after purchasing an additional 1,986 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.

A number of research analysts have weighed in on WFC shares. Macquarie upgraded Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research note on Monday, April 30th. UBS Group upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, April 5th. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.10 price target for the company in a research note on Thursday, April 5th. Barclays decreased their price target on Wells Fargo & Co from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, April 16th. Finally, Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Monday, April 9th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.82.

NYSE:WFC opened at $53.28 on Thursday. The company has a market cap of $263.20 billion, a P/E ratio of 12.96, a PEG ratio of 1.46 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.27. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.05. The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $21.74 billion. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. equities research analysts forecast that Wells Fargo & Co will post 4.57 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 4th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, May 3rd. This represents a $1.56 annualized dividend and a yield of 2.93%. Wells Fargo & Co’s payout ratio is currently 37.96%.

In related news, EVP Petros G. Pelos sold 25,567 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $54.76, for a total transaction of $1,400,048.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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