Tradewinds Capital Management LLC Has $245,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Tradewinds Capital Management LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 412.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,225 shares of the financial services provider’s stock after buying an additional 3,400 shares during the quarter. Tradewinds Capital Management LLC’s holdings in Wells Fargo & Company were worth $245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company during the fourth quarter worth $29,000. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company during the third quarter worth $25,000. Finally, Transcendent Capital Group LLC bought a new position in Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 1.1 %

Shares of WFC stock traded down $0.66 on Wednesday, reaching $60.31. The company had a trading volume of 3,730,891 shares, compared to its average volume of 18,347,551. The company has a 50-day moving average of $59.54 and a 200-day moving average of $55.30. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market cap of $210.26 billion, a PE ratio of 12.62, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the business earned $1.23 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.13 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. Wells Fargo & Company’s payout ratio is 29.23%.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Compass Point reaffirmed a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Finally, The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Fourteen equities research 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 company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $59.36.

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.