Wells Fargo & Company (NYSE:WFC) Position Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 22.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,453 shares of the financial services provider’s stock after purchasing an additional 12,026 shares during the period. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $29,000. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $32,000. Finally, Bfsg LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $34,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a research report on Thursday, January 18th. Finally, HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.11 during trading hours on Friday, reaching $59.94. 17,298,461 shares of the company traded hands, compared to its average volume of 19,706,676. The stock’s fifty day moving average is $57.63 and its 200 day moving average is $50.23. The stock has a market cap of $212.21 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’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 $1.23 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wells Fargo & Company Company Profile

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.