Mitchell Mcleod Pugh & Williams Inc. Reduces Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mitchell Mcleod Pugh & Williams Inc. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,699 shares of the financial services provider’s stock after selling 852 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Wells Fargo & Company were worth $970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stoneridge Investment Partners LLC lifted its position in Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 54,262 shares during the period. United Services Automobile Association lifted its holdings in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after buying an additional 11,825 shares during the period. Synovus Financial Corp lifted its holdings in shares of Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after buying an additional 46,525 shares during the period. Trust Point Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $2,499,000. Finally, WealthPlan Investment Management LLC lifted its holdings in shares of Wells Fargo & Company by 2,174.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock valued at $870,000 after buying an additional 20,351 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.6 %

Wells Fargo & Company stock traded up $0.33 during mid-day trading on Monday, hitting $60.24. The company’s stock had a trading volume of 4,011,766 shares, compared to its average volume of 18,920,266. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average is $56.93 and its two-hundred day moving average is $49.70. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $61.76. The firm has a market capitalization of $213.27 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reissued a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. HSBC boosted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Argus boosted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Thirteen equities research 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, the company currently has an average rating of “Hold” and an average target price of $58.85.

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.