Axiom Financial Strategies LLC Acquires Shares of 2,691 Wells Fargo & Company $WFC

Axiom Financial Strategies LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,691 shares of the financial services provider’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its holdings in Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company in the second quarter valued at $27,000. Motco increased its holdings in 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 buying an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new position in Wells Fargo & Company in the first quarter valued at $29,000. Finally, 1248 Management LLC purchased a new position in Wells Fargo & Company in the first quarter valued at $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. UBS Group cut their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday. Finally, Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.57.

Read Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Stock Down 1.0%

Shares of NYSE WFC opened at $83.91 on Thursday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47. The stock has a market cap of $268.79 billion, a PE ratio of 13.80, a P/E/G ratio of 1.16 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average of $81.61 and a 200 day moving average of $77.29.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the prior year, the company earned $1.42 EPS. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wells Fargo & Company Profile

(Free Report)

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.

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

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