Resources Management Corp CT ADV Has $1.87 Million Stake in Wells Fargo & Company $WFC

Resources Management Corp CT ADV trimmed its position in Wells Fargo & Company (NYSE:WFC) by 1.0% in the first quarter, HoldingsChannel.com reports. The firm owned 25,990 shares of the financial services provider’s stock after selling 250 shares during the period. Resources Management Corp CT ADV’s holdings in Wells Fargo & Company were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Motco raised its stake in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter valued at $29,000. Stone House Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter valued at $34,000. Orion Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $35,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Wells Fargo & Company in the first quarter valued at $36,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $78.98 on Friday. The stock’s fifty day moving average is $80.54 and its 200-day moving average is $75.03. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $253.00 billion, a PE ratio of 13.52, a PEG ratio of 1.23 and a beta of 1.25. Wells Fargo & Company has a 52 week low of $50.22 and a 52 week high of $84.83.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 30.82%.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Evercore ISI restated an “outperform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Finally, Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $82.56.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.