Crewe Advisors LLC Invests $302,000 in Wells Fargo & Company (NYSE:WFC)

Crewe Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,211 shares of the financial services provider’s stock, valued at approximately $302,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Slagle Financial LLC boosted its stake in Wells Fargo & Company by 97.3% during the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after buying an additional 68,356 shares in the last quarter. Ballentine Partners LLC boosted its stake in Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 1,835 shares in the last quarter. Trust Point Inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at about $2,499,000. Stonegate Investment Group LLC boosted its stake in Wells Fargo & Company by 5.2% during the first quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock valued at $2,256,000 after buying an additional 1,911 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after buying an additional 21,496 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.4 %

Shares of WFC traded up $0.26 during midday trading on Thursday, reaching $59.70. 14,046,287 shares of the stock were exchanged, compared to its average volume of 18,317,041. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a market cap of $208.13 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.47 and a beta of 1.17. The firm has a 50 day simple moving average of $59.16 and a 200-day simple moving average of $56.41. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed 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. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Evercore ISI reaffirmed an “outperform” rating and set a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Jefferies Financial Group increased their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. HSBC increased their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.31.

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.