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

TCI Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,195 shares of the financial services provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. HSBC upped their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Evercore ISI raised their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Finally, Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research note on Thursday, January 18th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Trading Up 0.1 %

Wells Fargo & Company stock traded up $0.05 during trading hours on Monday, reaching $59.99. The stock had a trading volume of 13,018,372 shares, compared to its average volume of 18,878,563. The company has a fifty day simple moving average of $57.63 and a 200-day simple moving average of $50.35. Wells Fargo & Company has a 52 week low of $37.18 and a 52 week high of $61.76. The stock has a market cap of $209.14 billion, a PE ratio of 12.55, a PEG ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

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

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.33%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

About Wells Fargo & Company

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.