Callan Capital LLC Acquires Shares of 5,462 Wells Fargo & Company (NYSE:WFC)

Callan Capital LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,462 shares of the financial services provider’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. boosted 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 last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.3 %

NYSE WFC traded down $0.16 on Wednesday, hitting $59.72. 12,048,897 shares of the stock were exchanged, compared to its average volume of 18,177,939. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $208.20 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 1.45 and a beta of 1.17. The company’s 50-day moving average price is $59.54 and its two-hundred day moving average price is $55.67.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. HSBC boosted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Finally, Jefferies Financial Group boosted their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Thirteen investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $59.36.

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.