Eclectic Associates Inc. ADV Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Eclectic Associates Inc. ADV boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,452 shares of the financial services provider’s stock after buying an additional 178 shares during the quarter. Eclectic Associates Inc. ADV’s holdings in Wells Fargo & Company were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $26,000. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the period. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $1.98 during midday trading on Friday, hitting $56.96. The company had a trading volume of 14,594,449 shares, compared to its average volume of 18,007,127. The stock has a market cap of $198.58 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.32 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $55.36 and a 200 day simple moving average of $57.75. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WFC. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Morgan Stanley lowered 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 research note on Monday, September 30th. BMO Capital Markets upped their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.41.

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.