Montecito Bank & Trust Makes New Investment in Exelon Co. (NASDAQ:EXC)

Montecito Bank & Trust acquired a new stake in Exelon Co. (NASDAQ:EXC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,067 shares of the company's stock, valued at approximately $418,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Janney Montgomery Scott LLC purchased a new stake in Exelon in the 1st quarter worth $6,795,000. Trust Co. of Toledo NA OH grew its position in shares of Exelon by 2.3% in the first quarter. Trust Co. of Toledo NA OH now owns 36,267 shares of the company's stock valued at $1,671,000 after purchasing an additional 826 shares during the period. Optas LLC purchased a new stake in shares of Exelon during the first quarter worth about $248,000. Brighton Jones LLC acquired a new position in shares of Exelon during the 1st quarter worth about $226,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Exelon by 182.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 28,174 shares of the company's stock worth $1,298,000 after purchasing an additional 18,201 shares during the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXC. UBS Group reiterated a "neutral" rating and set a $48.00 price objective (up from $46.00) on shares of Exelon in a research note on Monday, June 2nd. KeyCorp downgraded Exelon from a "sector weight" rating to an "underweight" rating and set a $39.00 price objective for the company. in a research note on Wednesday, May 14th. Guggenheim raised their price objective on Exelon from $47.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 2nd. BMO Capital Markets upped their target price on shares of Exelon from $46.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company increased their target price on shares of Exelon from $46.00 to $50.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $47.40.

Exelon Price Performance

Exelon stock opened at $42.68 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average price of $44.74 and a 200 day moving average price of $42.26. Exelon Co. has a 12-month low of $34.01 and a 12-month high of $48.11. The stock has a market cap of $43.09 billion, a P/E ratio of 17.42, a PEG ratio of 2.86 and a beta of 0.39.

Exelon (NASDAQ:EXC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. Exelon had a net margin of 10.68% and a return on equity of 9.52%. The business had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.30 billion. During the same quarter last year, the firm earned $0.68 EPS. The business's revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Exelon Co. will post 2.64 earnings per share for the current year.

Exelon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, May 12th. Exelon's dividend payout ratio (DPR) is presently 59.48%.

Exelon Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.

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