Fruth Investment Management Purchases 200 Shares of Wells Fargo & Company (NYSE:WFC)

Fruth Investment Management boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,518 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. Fruth Investment Management’s holdings in Wells Fargo & Company were worth $377,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.31 during trading hours on Thursday, reaching $60.66. 6,698,813 shares of the stock were exchanged, compared to its average volume of 18,808,808. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $211.48 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.50 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The firm’s 50 day moving average is $59.54 and its 200 day moving average is $55.34.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.13 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. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. Keefe, Bruyette & Woods restated 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. Evercore ISI raised their target price on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Argus raised their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Compass Point reissued a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, HSBC lifted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.36.

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.