Wells Fargo & Company (NYSE:WFC) Stake Boosted by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 52.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,974 shares of the financial services provider’s stock after purchasing an additional 6,171 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Wells Fargo & Company were worth $834,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WFC. Centerpoint Advisors LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $25,000. MV Capital Management Inc. grew its holdings in shares of Wells Fargo & Company by 561.5% during the second quarter. MV Capital Management Inc. now owns 602 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 511 shares during the last quarter. Isthmus Partners LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth approximately $27,000. GeoWealth Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth approximately $27,000. Finally, Holloway Wealth Management LLC lifted its position in Wells Fargo & Company by 547.0% in the second quarter. Holloway Wealth Management LLC now owns 647 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 547 shares during the period. 70.62% of the stock is owned by institutional investors.

WFC stock opened at $51.31 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.82 and a quick ratio of 0.81. Wells Fargo & Company has a 52-week low of $27.28 and a 52-week high of $52.56. The company has a 50-day moving average of $49.00 and a two-hundred day moving average of $47.04. The stock has a market capitalization of $210.70 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.08 and a beta of 1.33.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Thursday, October 14th. The financial services provider reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.18. Wells Fargo & Company had a net margin of 23.82% and a return on equity of 11.20%. The business had revenue of $18.83 billion during the quarter, compared to analysts’ expectations of $18.31 billion. During the same quarter last year, the company earned $0.56 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 4.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Friday, November 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, November 4th. Wells Fargo & Company’s payout ratio is 18.87%.

Several research analysts have issued reports on WFC shares. Raymond James upped their price target on Wells Fargo & Company from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $49.00 to $46.00 in a research note on Tuesday, September 28th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, October 15th. Evercore ISI reaffirmed a “buy” rating and issued a $49.00 price target on shares of Wells Fargo & Company in a research note on Friday, September 10th. Finally, TheStreet raised shares of Wells Fargo & Company from a “c+” rating to a “b-” rating in a research note on Thursday, October 14th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.71.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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

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