American National Bank & Trust Co. VA Acquires Shares of 13,615 Wells Fargo & Company (NYSE:WFC)

American National Bank & Trust Co. VA acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the first quarter, HoldingsChannel reports. The fund acquired 13,615 shares of the financial services provider’s stock, valued at approximately $789,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $29,000. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth $25,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. Citigroup reissued a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Jefferies Financial Group raised their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday. HSBC raised their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Argus raised their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Fourteen 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, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $59.36.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $0.31 during trading on Thursday, hitting $60.66. 6,698,813 shares of the stock were exchanged, compared to its average volume of 18,808,808. The stock has a market capitalization of $211.48 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.17. The company has a fifty day moving average price of $59.54 and a 200-day moving average price of $55.34. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for 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%. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.13 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

About Wells Fargo & Company

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.