Axiom Financial Strategies LLC Buys Shares of 2,691 Wells Fargo & Company $WFC

Axiom Financial Strategies LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,691 shares of the financial services provider’s stock, valued at approximately $216,000.

Several other institutional investors also recently bought and sold shares of the company. Ethic Inc. boosted its stake in Wells Fargo & Company by 3.0% in the second quarter. Ethic Inc. now owns 60,381 shares of the financial services provider’s stock valued at $4,800,000 after acquiring an additional 1,752 shares in the last quarter. Meadow Creek Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 3.8% in the second quarter. Meadow Creek Wealth Advisors LLC now owns 3,824 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 141 shares in the last quarter. Caliber Wealth Management LLC KS boosted its stake in Wells Fargo & Company by 3.1% in the second quarter. Caliber Wealth Management LLC KS now owns 4,656 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 138 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Wells Fargo & Company by 10.6% in the second quarter. Rehmann Capital Advisory Group now owns 39,035 shares of the financial services provider’s stock valued at $3,128,000 after acquiring an additional 3,736 shares in the last quarter. Finally, Members Trust Co boosted its stake in Wells Fargo & Company by 7.1% in the second quarter. Members Trust Co now owns 12,877 shares of the financial services provider’s stock valued at $1,032,000 after acquiring an additional 856 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WFC shares. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Down 1.0%

NYSE WFC opened at $83.91 on Thursday. The company has a market capitalization of $268.79 billion, a PE ratio of 13.80, a P/E/G ratio of 1.16 and a beta of 1.25. The company has a fifty day moving average of $81.61 and a 200 day moving average of $77.29. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wells Fargo & 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.