Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Wells Fargo (NYSE:WFC) by 23.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 307,336 shares of the financial services provider’s stock after buying an additional 59,276 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Wells Fargo were worth $15,754,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Delpha Capital Management LLC bought a new position in Wells Fargo in the 4th quarter valued at $103,000. Stelac Advisory Services LLC bought a new position in Wells Fargo in the 4th quarter valued at $109,000. Santori & Peters Inc. bought a new position in Wells Fargo in the 4th quarter valued at $110,000. Cerebellum GP LLC bought a new position in Wells Fargo in the 4th quarter valued at $132,000. Finally, BKS Advisors LLC bought a new position in Wells Fargo in the 3rd quarter valued at $143,000. 76.79% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. Sandler O’Neill reissued a “buy” rating and issued a $64.00 price target on shares of Wells Fargo in a report on Friday, April 13th. Bank of America dropped their price objective on shares of Wells Fargo from $70.00 to $69.00 and set a “buy” rating for the company in a report on Monday, February 5th. Vetr raised shares of Wells Fargo from a “hold” rating to a “buy” rating and set a $54.10 price objective for the company in a report on Wednesday, April 11th. Barclays dropped their price objective on shares of Wells Fargo from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, April 16th. Finally, Morgan Stanley downgraded shares of Wells Fargo from an “equal weight” rating to an “underweight” rating in a report on Monday, February 5th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $61.83.
Shares of Wells Fargo opened at $53.70 on Monday, MarketBeat reports. The firm has a market capitalization of $261.94 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.45 and a beta of 1.13. Wells Fargo has a 52 week low of $49.27 and a 52 week high of $66.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.88.
Wells Fargo (NYSE:WFC) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. Wells Fargo had a net margin of 22.80% and a return on equity of 12.46%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. equities analysts forecast that Wells Fargo will post 4.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 3rd. Wells Fargo’s payout ratio is presently 37.96%.
Wells Fargo declared that its Board of Directors has approved a share repurchase program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Wells Fargo Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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