TCI Wealth Advisors Inc. Takes $206,000 Position in Wells Fargo & Company (NYSE:WFC)

TCI Wealth Advisors Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,195 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other institutional investors have also modified their holdings of the business. Stoneridge Investment Partners LLC grew its position in shares of Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 54,262 shares during the period. United Services Automobile Association increased its stake in Wells Fargo & Company by 13.7% in the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Synovus Financial Corp boosted its holdings in Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares in the last quarter. Trust Point Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $2,499,000. Finally, WealthPlan Investment Management LLC raised its holdings in shares of Wells Fargo & Company by 2,174.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 20,351 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Raymond James raised their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Morgan Stanley raised their target price 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. Piper Sandler dropped their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, HSBC upped their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Stock Up 0.1 %

NYSE WFC traded up $0.05 during midday trading on Monday, hitting $59.99. 13,018,372 shares of the company traded hands, compared to its average volume of 18,878,563. Wells Fargo & Company has a 52 week low of $37.18 and a 52 week high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $209.14 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company’s 50-day simple moving average is $57.63 and its 200-day simple moving average is $50.35.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. Wells Fargo & Company’s payout ratio is currently 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.