Patton Albertson Miller Group LLC Has $252,000 Stake in Wells Fargo & Company (NYSE:WFC)

Patton Albertson Miller Group LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,127 shares of the financial services provider’s stock after selling 278 shares during the period. Patton Albertson Miller Group LLC’s holdings in Wells Fargo & Company were worth $252,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the third quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% in the fourth 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 period. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on WFC. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a report on Thursday, January 18th. JPMorgan Chase & Co. lifted 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 note on Wednesday, May 1st. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Argus lifted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. 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 an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Trading Up 0.1 %

Shares of Wells Fargo & Company stock traded up $0.07 on Thursday, hitting $61.30. 14,223,917 shares of the company’s stock traded hands, compared to its average volume of 18,845,982. The company has a fifty day moving average of $57.99 and a two-hundred day moving average of $50.70. Wells Fargo & Company has a one year low of $37.18 and a one year high of $61.76. The company has a market capitalization of $213.71 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth 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 posted its quarterly 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. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.