Pioneer Trust Bank N A OR Has $290,000 Stake in Wells Fargo & Company (NYSE:WFC)

Pioneer Trust Bank N A OR reduced its position in Wells Fargo & Company (NYSE:WFC) by 71.8% in the 4th quarter, HoldingsChannel reports. The firm owned 5,900 shares of the financial services provider’s stock after selling 15,000 shares during the period. Pioneer Trust Bank N A OR’s holdings in Wells Fargo & Company were worth $290,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Fortis Group Advisors LLC bought a new position in shares of 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 fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake 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 valued at $26,000 after acquiring an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WFC shares. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Jefferies Financial Group lifted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Piper Sandler reduced their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Finally, Evercore ISI lifted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Fourteen 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’s stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Trading Up 0.7 %

NYSE WFC traded up $0.40 during trading on Thursday, hitting $61.28. The company had a trading volume of 14,182,688 shares, compared to its average volume of 18,823,582. Wells Fargo & Company has a one year low of $37.18 and a one year high of $61.76. The company has a market cap of $213.64 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company’s fifty day moving average is $57.86 and its 200-day moving average is $50.62. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.08 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 Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wells Fargo & Company Company Profile

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.