Davidson Trust Co. Acquires 772 Shares of Wells Fargo & Company (NYSE:WFC)

Davidson Trust Co. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,785 shares of the financial services provider’s stock after buying an additional 772 shares during the period. Davidson Trust Co.’s holdings in Wells Fargo & Company were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $29,000. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth about $25,000. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 108.0% in the fourth quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock worth $36,000 after buying an additional 376 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 3.4 %

Shares of WFC traded up $1.99 during trading hours on Friday, hitting $60.73. The company had a trading volume of 13,570,477 shares, compared to its average volume of 18,693,508. The firm has a fifty day moving average price of $55.63 and a 200-day moving average price of $48.68. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $215.01 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.11 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $60.79.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James raised their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group increased their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, HSBC increased their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.85.

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.