Delta Asset Management LLC TN Buys 17,496 Shares of Wells Fargo & Company (NYSE:WFC)


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Delta Asset Management LLC TN boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 451,087 shares of the financial services provider’s stock after purchasing an additional 17,496 shares during the quarter. Wells Fargo & Company comprises about 1.8% of Delta Asset Management LLC TN’s holdings, making the stock its 19th biggest holding. Delta Asset Management LLC TN’s holdings in Wells Fargo & Company were worth $17,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Wells Fargo & Company by 17.7% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,766 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 266 shares during the last quarter. Tributary Capital Management LLC grew its position in Wells Fargo & Company by 3.4% during the 1st quarter. Tributary Capital Management LLC now owns 9,100 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 300 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Wells Fargo & Company by 10.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,575 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 325 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Wells Fargo & Company by 0.5% during the 1st quarter. Stratos Wealth Partners LTD. now owns 63,774 shares of the financial services provider’s stock valued at $2,492,000 after purchasing an additional 343 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its position in Wells Fargo & Company by 0.4% during the 1st quarter. DAVENPORT & Co LLC now owns 79,239 shares of the financial services provider’s stock valued at $3,096,000 after purchasing an additional 343 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors.

NYSE WFC opened at $45.48 on Tuesday. The stock has a market cap of $188.02 billion, a PE ratio of 122.92, a P/E/G ratio of 4.84 and a beta of 1.07. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34. Wells Fargo & Company has a twelve month low of $20.76 and a twelve month high of $46.39. The stock has a fifty day simple moving average of $41.29 and a 200-day simple moving average of $32.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 13th. The financial services provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.36. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The company had revenue of $18.06 billion during the quarter, compared to analysts’ expectations of $17.42 billion. During the same period last year, the business posted $0.01 EPS. Wells Fargo & Company’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 0.48 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio is currently 9.13%.

WFC has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Wells Fargo & Company from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 21st. Credit Suisse Group raised shares of Wells Fargo & Company from a “neutral” rating to an “outperform” rating and raised their price target for the company from $35.00 to $40.00 in a report on Monday, January 25th. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $41.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets increased their price objective on shares of Wells Fargo & Company from $40.00 to $43.00 in a research note on Thursday, April 15th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & Company presently has a consensus rating of “Buy” and a consensus price target of $40.83.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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