Wells Fargo & Company (NYSE:WFC) Shares Sold by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 reporting period.

A number of other large investors also recently bought and sold shares of WFC. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Wells Fargo & Company by 208.0% in the 4th 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 purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $0.07 during trading on Thursday, reaching $61.30. The stock had a trading volume of 14,223,917 shares, compared to its average volume of 18,845,982. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $213.71 billion, a PE ratio of 12.79, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a one year low of $37.18 and a one year high of $61.76. The firm’s 50 day moving average price is $57.99 and its two-hundred day moving average price is $50.70.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Compass Point reaffirmed a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Raymond James increased their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Piper Sandler reduced their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Citigroup reiterated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.99.

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.