Argyle Capital Management Inc. Sells 10,000 Shares of Wells Fargo & Company (NYSE:WFC)

Argyle Capital Management Inc. lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,043 shares of the financial services provider’s stock after selling 10,000 shares during the period. Argyle Capital Management Inc.’s holdings in Wells Fargo & Company were worth $2,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake 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 valued at about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.0 %

NYSE:WFC traded down $0.02 on Friday, hitting $59.91. The stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The company has a fifty day moving average price of $56.93 and a two-hundred day moving average price of $49.70. The stock has a market cap of $212.11 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. 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 1-year low of $36.40 and a 1-year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Argus lifted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Thirteen 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 company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $58.85.

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.