OneAscent Wealth Management LLC Has $564,000 Stake in Wells Fargo & Company (NYSE:WFC)

OneAscent Wealth Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,725 shares of the financial services provider’s stock after selling 338 shares during the period. OneAscent Wealth Management LLC’s holdings in Wells Fargo & Company were worth $564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $25,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WFC. Argus boosted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. HSBC increased their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.15.

Wells Fargo & Company Stock Up 3.4 %

Shares of NYSE:WFC traded up $1.97 during mid-day trading on Friday, hitting $59.39. 31,074,465 shares of the company traded hands, compared to its average volume of 18,610,088. 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 $207.05 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.42 and a beta of 1.17. The stock has a 50-day moving average price of $59.55 and a two-hundred day moving average price of $55.04.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 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.