Crewe Advisors LLC Buys New Position in Wells Fargo & Company (NYSE:WFC)

Crewe Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,211 shares of the financial services provider’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $29,000. Wetzel Investment Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Finally, Transcendent Capital Group LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.26 during midday trading on Thursday, hitting $59.70. The company had a trading volume of 14,046,287 shares, compared to its average volume of 18,317,041. The company has a market capitalization of $208.13 billion, a PE ratio of 12.26, a P/E/G ratio of 1.47 and a beta of 1.17. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $59.16 and a 200-day moving average price of $56.41. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 28.75%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Evercore ISI reiterated an “outperform” rating and set a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Argus lifted their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $59.31.

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.