Patriot Financial Group Insurance Agency LLC Sells 234 Shares of Wells Fargo & Company (NYSE:WFC)

Patriot Financial Group Insurance Agency LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,872 shares of the financial services provider’s stock after selling 234 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Wells Fargo & Company were worth $3,924,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WFC. Quad Cities Investment Group LLC lifted its holdings in Wells Fargo & Company by 0.3% during the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares during the last quarter. Investors Research Corp lifted its holdings in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after buying an additional 160 shares in the last quarter. Ellenbecker Investment Group increased its position in shares of Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the period. Income Research & Management bought a new position in shares of Wells Fargo & Company in the third quarter worth $211,000. Finally, Modera Wealth Management LLC increased its position in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Down 0.1 %

Shares of Wells Fargo & Company stock opened at $77.90 on Tuesday. The stock has a fifty day simple moving average of $73.19 and a 200 day simple moving average of $64.10. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.36. The company has a market capitalization of $259.36 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.