Glaxis Capital Management LLC Invests $1.82 Million in Wells Fargo & Company $WFC

Glaxis Capital Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel reports. The fund bought 22,697 shares of the financial services provider’s stock, valued at approximately $1,818,000. Wells Fargo & Company accounts for 2.4% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $29,000. Finally, Motco raised its position in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.3%

Shares of WFC opened at $84.98 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $266.77 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.64. The business’s 50 day simple moving average is $83.71 and its 200-day simple moving average is $79.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the business posted $1.42 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WFC. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Bank of America increased their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Citigroup lifted their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. UBS Group lowered their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Finally, Barclays increased their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

About Wells Fargo & Company

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.