Proficio Capital Partners LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Proficio Capital Partners LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,259 shares of the financial services provider’s stock after acquiring an additional 320 shares during the period. Proficio Capital Partners LLC’s holdings in Wells Fargo & Company were worth $423,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Belpointe Asset Management LLC increased its holdings in shares of Wells Fargo & Company by 43.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 12,753 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 3,840 shares during the last quarter. Harbour Investments Inc. raised its holdings in Wells Fargo & Company by 11.4% during the third quarter. Harbour Investments Inc. now owns 23,797 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 2,429 shares in the last quarter. Carlson Capital Management lifted its position in shares of Wells Fargo & Company by 1.4% during the 3rd quarter. Carlson Capital Management now owns 33,433 shares of the financial services provider’s stock worth $1,366,000 after buying an additional 464 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in shares of Wells Fargo & Company by 3.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 370,328 shares of the financial services provider’s stock valued at $15,132,000 after buying an additional 13,481 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of Wells Fargo & Company by 1.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,348,284 shares of the financial services provider’s stock valued at $55,091,000 after buying an additional 22,421 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC stock traded down $0.36 during trading on Wednesday, reaching $59.52. 2,633,762 shares of the company were exchanged, compared to its average volume of 18,104,189. 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 quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $207.51 billion, a P/E ratio of 12.50, a PEG ratio of 1.45 and a beta of 1.17. The stock’s 50 day moving average price is $59.54 and its 200 day moving average price is $55.67.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 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 business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the company earned $1.23 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WFC shares. Argus raised their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Compass Point reiterated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Finally, Jefferies Financial Group upped their price target on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Thirteen 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 data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $59.36.

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.