Wells Fargo & Company (NYSE:WFC) Shares Sold by Adams Asset Advisors LLC

Adams Asset Advisors LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 0.2% in the 1st quarter, Holdings Channel reports. The firm owned 181,318 shares of the financial services provider’s stock after selling 382 shares during the quarter. Wells Fargo & Company accounts for about 1.4% of Adams Asset Advisors LLC’s portfolio, making the stock its 21st largest position. Adams Asset Advisors LLC’s holdings in Wells Fargo & Company were worth $10,509,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter worth approximately $25,000. Finally, Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on WFC. The Goldman Sachs Group raised their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Stock Down 0.2 %

Shares of WFC stock traded down $0.12 during trading on Thursday, reaching $58.93. The company’s stock had a trading volume of 3,941,937 shares, compared to its average volume of 17,903,357. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The stock’s 50-day moving average price is $59.46 and its 200 day moving average price is $54.48. The company has a market capitalization of $205.45 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.46 and a beta of 1.17. 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 (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the company posted $1.23 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.38%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

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.