Patriot Financial Group Insurance Agency LLC Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,250 shares of the financial services provider’s stock after acquiring an additional 4,038 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Wells Fargo & Company were worth $2,030,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC boosted its stake in Wells Fargo & Company by 19.5% in the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 1,185 shares in the last quarter. Stoneridge Investment Partners LLC increased its holdings in Wells Fargo & Company by 410.5% in 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 in the last quarter. Caxton Associates LP purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $4,967,000. United Services Automobile Association increased its holdings in 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 worth $4,000,000 after acquiring an additional 11,825 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in 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 worth $4,983,000 after acquiring an additional 46,525 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.6 %

WFC traded up $0.35 on Friday, hitting $57.96. The company had a trading volume of 14,618,982 shares, compared to its average volume of 19,896,764. The stock has a fifty day moving average price of $53.23 and a 200-day moving average price of $47.09. Wells Fargo & Company has a 12-month low of $36.27 and a 12-month high of $58.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $205.20 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.30 billion. During the same quarter last year, the firm earned $0.67 EPS. Wells Fargo & Company’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.42%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is presently 29.05%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. HSBC increased their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods reiterated 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. Twelve 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.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $55.85.

Wells Fargo & 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.