Accurate Wealth Management LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Accurate Wealth Management LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,317 shares of the financial services provider’s stock, valued at approximately $582,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sovereign Financial Group Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth $210,000. Quad Cities Investment Group LLC grew its position in Wells Fargo & Company by 0.3% in the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares in the last quarter. Ignite Planners LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at $255,000. Hummer Financial Advisory Services Inc bought a new position in Wells Fargo & Company in the fourth quarter valued at $220,000. Finally, MRA Advisory Group bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $219,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WFC. Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Barclays upped their price target on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Trading Up 6.6 %

WFC opened at $75.86 on Thursday. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average of $72.41 and a 200-day moving average of $63.15. The stock has a market cap of $252.58 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

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.