Capital Asset Advisory Services LLC Has $2.87 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Capital Asset Advisory Services LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 16.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 49,995 shares of the financial services provider’s stock after purchasing an additional 7,020 shares during the period. Capital Asset Advisory Services LLC’s holdings in Wells Fargo & Company were worth $2,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Transform Wealth LLC boosted its holdings in shares of Wells Fargo & Company by 42.6% in the first quarter. Transform Wealth LLC now owns 6,362 shares of the financial services provider’s stock worth $369,000 after buying an additional 1,902 shares during the period. Thrive Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 10.7% during the first quarter. Thrive Wealth Management LLC now owns 7,618 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 737 shares during the period. Seed Wealth Management Inc. acquired a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $210,000. Towerpoint Wealth LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $206,000. Finally, Hurlow Wealth Management Group Inc. acquired a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $233,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC traded up $1.96 during trading on Friday, reaching $59.39. 31,064,935 shares of the company’s stock were exchanged, compared to its average volume of 18,567,232. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average price of $59.59 and a 200 day moving average price of $54.93. The company has a market capitalization of $207.03 billion, a P/E ratio of 12.34, a PEG ratio of 1.41 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS 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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter 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, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WFC. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Citigroup reissued a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Finally, HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.15.

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.