Pettyjohn Wood & White Inc. Lowers Position in Wells Fargo & Company (NYSE:WFC)

Pettyjohn Wood & White Inc. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 5.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,588 shares of the financial services provider’s stock after selling 714 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Wells Fargo & Company were worth $620,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WFC. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company during the third quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $29,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research reports. HSBC boosted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, Evercore ISI boosted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Fourteen investment 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. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $58.99.

Read Our Latest Stock Report on Wells Fargo & Company

Wells Fargo & Company Stock Down 0.1 %

WFC traded down $0.04 during trading on Thursday, hitting $57.26. The company had a trading volume of 15,962,151 shares, compared to its average volume of 18,064,629. The company has a market cap of $199.63 billion, a PE ratio of 11.95, a P/E/G ratio of 1.53 and a beta of 1.17. The business has a 50-day moving average of $59.38 and a 200-day moving average of $54.00. 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 has a 1-year low of $38.38 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 15.63% and a return on equity of 12.30%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wells Fargo & Company Profile

(Free Report)

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.

See Also

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

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