JT Stratford LLC boosted its holdings in Wells Fargo & Co (NYSE:WFC) by 102.2% in the first quarter, HoldingsChannel.com reports. The firm owned 8,022 shares of the financial services provider’s stock after acquiring an additional 4,055 shares during the period. JT Stratford LLC’s holdings in Wells Fargo & Co were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. Coyle Financial Counsel LLC acquired a new position in shares of Wells Fargo & Co during the first quarter valued at $101,000. Delpha Capital Management LLC acquired a new position in shares of Wells Fargo & Co during the fourth quarter valued at $103,000. Stelac Advisory Services LLC acquired a new position in shares of Wells Fargo & Co during the fourth quarter valued at $109,000. Santori & Peters Inc. acquired a new position in shares of Wells Fargo & Co during the fourth quarter valued at $110,000. Finally, Delphi Private Advisors LLC boosted its holdings in shares of Wells Fargo & Co by 439.9% during the fourth quarter. Delphi Private Advisors LLC now owns 2,462 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 2,006 shares during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Wells Fargo & Co opened at $55.89 on Friday, Marketbeat reports. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31. The stock has a market capitalization of $271.01 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.07 by $0.05. Wells Fargo & Co had a net margin of 22.80% and a return on equity of 12.46%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same period in the previous year, the business earned $1.00 earnings per share. Wells Fargo & Co’s revenue for the quarter was down 1.4% compared to the same quarter last year. analysts predict that Wells Fargo & Co will post 4.57 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Sandler O’Neill reissued a “buy” rating and set a $64.00 price target on shares of Wells Fargo & Co in a report on Friday, April 13th. Vetr upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $54.10 price objective on the stock in a research note on Wednesday, April 11th. Barclays cut their price objective on shares of Wells Fargo & Co from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Monday, April 16th. Piper Jaffray Companies restated a “hold” rating and set a $58.00 price objective on shares of Wells Fargo & Co in a research note on Monday, April 16th. Finally, Vining Sparks restated a “buy” rating and set a $65.00 price objective on shares of Wells Fargo & Co in a research note on Friday, April 13th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $62.05.
In other Wells Fargo & Co news, EVP Petros G. Pelos sold 25,567 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $54.76, for a total value of $1,400,048.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.
Wells Fargo & Co Profile
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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