SRS Capital Advisors Inc. Acquires 1,569 Shares of Wells Fargo & Company (NYSE:WFC)

SRS Capital Advisors Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 40.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,409 shares of the financial services provider’s stock after purchasing an additional 1,569 shares during the period. SRS Capital Advisors Inc.’s holdings in Wells Fargo & Company were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WFC shares. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 1.7 %

Shares of NYSE WFC opened at $76.96 on Tuesday. The firm has a market capitalization of $253.06 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm’s 50-day moving average is $76.00 and its 200-day moving average is $68.11.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.