Cassaday & Co Wealth Management LLC Has $278,000 Stake in Wells Fargo & Company (NYSE:WFC)

Cassaday & Co Wealth Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,645 shares of the financial services provider’s stock after acquiring an additional 224 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Wells Fargo & Company were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the fourth quarter worth about $29,000. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company during the third quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth about $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.8 %

Shares of WFC stock traded down $0.50 during mid-day trading on Wednesday, hitting $60.96. The company’s stock had a trading volume of 3,224,363 shares, compared to its average volume of 18,496,143. The company’s fifty day simple moving average is $58.87 and its 200-day simple moving average is $52.15. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $212.53 billion, a PE ratio of 12.75, a P/E/G ratio of 1.17 and a beta of 1.18.

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 analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the company posted $1.23 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WFC shares. Compass Point restated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Citigroup restated a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Morgan Stanley upped their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group upped their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Fourteen 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.99.

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.