Mitchell Mcleod Pugh & Williams Inc. Sells 852 Shares of 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 fourth quarter, according to its most recent 13F filing with the SEC. 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 filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp raised its position in Wells Fargo & Company by 0.3% in the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Pzena Investment Management LLC grew its stake in Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Wells Fargo & Company by 2.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock valued at $316,660,000 after purchasing an additional 221,459 shares during the period. Van ECK Associates Corp grew its stake in Wells Fargo & Company by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,103,120 shares of the financial services provider’s stock valued at $290,234,000 after purchasing an additional 1,156,106 shares during the period. Finally, Nordea Investment Management AB grew its stake in Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.33 during trading hours on Monday, reaching $60.24. 4,011,766 shares of the stock traded hands, compared to its average volume of 18,920,266. The company has a market capitalization of $213.27 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $61.76. The company’s 50-day simple moving average is $56.93 and its two-hundred day simple moving average is $49.70.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WFC shares. Barclays upped their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Raymond James increased their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. HSBC increased their price target 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. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research note on Thursday, January 18th. Finally, Argus increased their price target 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. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.85.

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.