Atlantic Union Bankshares Corp Has $5.74 Million Stake in Wells Fargo & Company (NYSE:WFC)

Atlantic Union Bankshares Corp raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,951 shares of the financial services provider’s stock after acquiring an additional 9,438 shares during the period. Atlantic Union Bankshares Corp’s holdings in Wells Fargo & Company were worth $5,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in Wells Fargo & Company by 208.0% during the fourth 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 period. Finally, Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company during the 4th quarter valued at $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 3.4 %

Wells Fargo & Company stock traded up $1.96 during midday trading on Friday, hitting $59.39. 31,064,935 shares of the stock were exchanged, compared to its average volume of 18,567,232. The stock has a market capitalization of $207.03 billion, a PE ratio of 12.40, a P/E/G ratio of 1.41 and a beta of 1.17. The company has a fifty day simple moving average of $59.55 and a two-hundred day simple moving average of $55.04. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates 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 was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Analyst Ratings Changes

WFC has been the subject of a number of research analyst reports. Argus upped their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Evercore ISI raised their price objective on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price 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.