TCG Advisory Services LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

TCG Advisory Services LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, Holdings Channel reports. The fund purchased 266,637 shares of the financial services provider’s stock, valued at approximately $13,124,000. Wells Fargo & Company comprises 0.9% of TCG Advisory Services LLC’s holdings, making the stock its 27th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the third quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WFC shares. JPMorgan Chase & Co. raised their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Argus lifted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC stock traded up $0.11 during trading hours on Friday, reaching $59.94. 17,298,461 shares of the stock were exchanged, compared to its average volume of 19,706,676. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company’s 50-day moving average price is $57.63 and its 200-day moving average price is $50.23. The firm has a market capitalization of $212.21 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a dividend of $0.35 per share. 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 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.