Apollon Wealth Management LLC Acquires 21,113 Shares of Wells Fargo & Company (NYSE:WFC)

Apollon Wealth Management LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 43.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,902 shares of the financial services provider’s stock after purchasing an additional 21,113 shares during the period. Apollon Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,441,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WFC. Brown Advisory Inc. lifted its holdings in Wells Fargo & Company by 6.7% during the third quarter. Brown Advisory Inc. now owns 247,652 shares of the financial services provider’s stock worth $10,119,000 after acquiring an additional 15,658 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Wells Fargo & Company by 13.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,257,632 shares of the financial services provider’s stock valued at $48,633,000 after purchasing an additional 144,713 shares in the last quarter. Baystate Wealth Management LLC grew its position in shares of Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares during the period. Cambridge Trust Co. raised its holdings in Wells Fargo & Company by 3.0% during the 3rd quarter. Cambridge Trust Co. now owns 15,273 shares of the financial services provider’s stock worth $624,000 after buying an additional 442 shares during the period. Finally, NBT Bank N A NY lifted its stake in Wells Fargo & Company by 10.8% in the third quarter. NBT Bank N A NY now owns 41,902 shares of the financial services provider’s stock valued at $1,712,000 after buying an additional 4,092 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.05 on Tuesday, hitting $60.24. The stock had a trading volume of 16,268,222 shares, compared to its average volume of 18,899,662. The stock has a market cap of $210.02 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $37.18 and a twelve month high of $61.76. The business’s 50 day moving average is $57.75 and its two-hundred day moving average is $50.48.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the business earned $1.23 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Analysts Set New Price Targets

WFC has been the subject of several research reports. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Jefferies Financial Group upped their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Compass Point reiterated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company 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.