Childress Capital Advisors LLC Has $1.08 Million Stock Holdings in Wells Fargo & Company $WFC

Childress Capital Advisors LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,424 shares of the financial services provider’s stock after selling 265 shares during the period. Childress Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $1,076,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Wealth Management Partners LLC raised its holdings in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 128 shares during the period. Verum Partners LLC raised its holdings in Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 128 shares during the period. Motive Wealth Advisors raised its holdings in Wells Fargo & Company by 3.7% in the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 129 shares during the period. Lynch & Associates IN raised its holdings in Wells Fargo & Company by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 135 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in Wells Fargo & Company by 19.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 138 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WFC. Wall Street Zen cut shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Bank of America raised their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $83.87 on Wednesday. The company’s 50 day simple moving average is $80.96 and its 200 day simple moving average is $76.12. The stock has a market capitalization of $268.67 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1 year low of $54.40 and a 1 year high of $86.65.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is 30.82%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.