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

Cassaday & Co Wealth Management LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,645 shares of the financial services provider’s stock after purchasing 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WFC. Jefferies Financial Group increased their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. 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. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Compass Point reiterated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Finally, HSBC raised their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.63 during mid-day trading on Friday, hitting $58.36. 14,466,845 shares of the company’s stock were exchanged, compared to its average volume of 14,193,930. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The stock’s 50-day simple moving average is $59.36 and its 200-day simple moving average is $53.67. The firm has a market cap of $203.46 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping 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 analysts’ expectations of $20.19 billion. During the same period last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors 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 dividend on an annualized basis and a yield of 2.40%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

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.