Davidson Trust Co. Has $1.17 Million Stake in Wells Fargo & Company (NYSE:WFC)

Davidson Trust Co. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,785 shares of the financial services provider’s stock after buying an additional 772 shares during the quarter. Davidson Trust Co.’s holdings in Wells Fargo & Company were worth $1,171,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in Wells Fargo & Company by 208.0% during 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. Studio Investment Management LLC bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WFC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Finally, Barclays lifted their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Thirteen equities research 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, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Stock Up 3.4 %

WFC traded up $1.99 during trading on Friday, reaching $60.73. 13,570,477 shares of the stock were exchanged, compared to its average volume of 18,693,508. The stock has a market cap of $215.01 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $60.79. The stock’s 50 day moving average price is $55.63 and its two-hundred day moving average price is $48.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. Equities analysts expect that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & 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.