Wells Fargo & Company $WFC Position Boosted by Diversified Trust Co

Diversified Trust Co lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 108.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,685 shares of the financial services provider’s stock after purchasing an additional 38,400 shares during the period. Diversified Trust Co’s holdings in Wells Fargo & Company were worth $5,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Navalign LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $28,000. Finally, Core Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth $29,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC stock opened at $82.31 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $251.89 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.96 and a beta of 0.93. The firm has a 50 day simple moving average of $79.70 and a 200 day simple moving average of $84.59. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 15th. JPMorgan Chase & Co. decreased their price target on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. KGI Securities downgraded Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.24.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.