Patton Albertson Miller Group LLC Lowers Stock Position in Wells Fargo & Company $WFC

Patton Albertson Miller Group LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 60.5% during the third quarter, Holdings Channel.com reports. The firm owned 5,492 shares of the financial services provider’s stock after selling 8,420 shares during the period. Patton Albertson Miller Group LLC’s holdings in Wells Fargo & Company were worth $460,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WFC. Hidden Cove Wealth Management LLC lifted its position in Wells Fargo & Company by 2.0% during the third quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 119 shares during the last quarter. Zullo Investment Group Inc. increased its position in shares of Wells Fargo & Company by 2.0% during the third quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 122 shares in the last quarter. Embree Financial Group lifted its holdings in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 126 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 126 shares in the last quarter. Finally, Traphagen Investment Advisors LLC boosted its position in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 127 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.2%

Shares of Wells Fargo & Company stock opened at $90.50 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The firm has a fifty day moving average price of $90.91 and a 200 day moving average price of $85.21. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The stock has a market cap of $284.08 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Trending Headlines about Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. HSBC reaffirmed a “hold” rating and issued a $74.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Bank of America raised their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Evercore ISI dropped their price objective on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Thirteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.87.

Get Our Latest Stock Report on WFC

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

Further Reading

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCFree Report).

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.