Koshinski Asset Management Inc. Has $1.01 Million Stock Holdings in Wells Fargo & Company $WFC

Koshinski Asset Management Inc. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 23.2% in the second quarter, HoldingsChannel reports. The firm owned 12,550 shares of the financial services provider’s stock after buying an additional 2,365 shares during the period. Koshinski Asset Management Inc.’s holdings in Wells Fargo & Company were worth $1,005,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the last quarter. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the first quarter valued at about $29,000. Motco grew its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its holdings in shares of Wells Fargo & Company by 112.9% during the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after buying an additional 227 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WFC shares. Bank of America lifted their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. TD Cowen lifted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. 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, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $83.25 on Monday. The firm has a market cap of $266.70 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 1.15 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The firm’s 50-day simple moving average is $81.21 and its two-hundred day simple moving average is $77.01.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 29.61%.

About Wells Fargo & Company

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.