Wells Fargo & Company (NYSE:WFC) Holdings Lifted by Cherry Tree Wealth Management LLC

Cherry Tree Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,539 shares of the financial services provider’s stock after buying an additional 431 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Wells Fargo & Company were worth $174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Evercore ISI increased their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Argus raised their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a report on Thursday, January 18th. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.97 during trading hours on Wednesday, hitting $61.23. 18,626,876 shares of the company traded hands, compared to its average volume of 18,897,705. 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 stock has a market capitalization of $213.47 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.16 and a beta of 1.18. The firm has a 50-day moving average of $57.86 and a 200 day moving average of $50.62. Wells Fargo & Company has a twelve month low of $37.18 and a twelve month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the company earned $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 dividend yield of 2.29%. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wells Fargo & 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.