Accelerate Investment Advisors LLC Purchases New Shares in Wells Fargo & Company (NYSE:WFC)

Accelerate Investment Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,172 shares of the financial services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at $26,000. Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. Valued Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WFC shares. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. 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 on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Morgan Stanley cut their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $61.07.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $61.12 on Monday. The firm has a market capitalization of $213.08 billion, a PE ratio of 12.52, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $55.39 and its 200 day simple moving average is $57.79.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the business posted $1.39 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date 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 dividend yield of 2.62%. Wells Fargo & Company’s payout ratio is 32.85%.

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.