Addison Capital Co Sells 562 Shares of Wells Fargo & Company (NYSE:WFC)

Addison Capital Co lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 14.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,444 shares of the financial services provider’s stock after selling 562 shares during the quarter. Addison Capital Co’s holdings in Wells Fargo & Company were worth $242,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WFC. GLOBALT Investments LLC GA grew its stake in shares of Wells Fargo & Company by 26.7% during the fourth quarter. GLOBALT Investments LLC GA now owns 129,240 shares of the financial services provider’s stock valued at $9,078,000 after buying an additional 27,211 shares during the last quarter. First National Advisers LLC boosted its holdings in Wells Fargo & Company by 5.1% during the 4th quarter. First National Advisers LLC now owns 72,488 shares of the financial services provider’s stock valued at $5,091,000 after acquiring an additional 3,503 shares during the period. GWN Securities Inc. bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $390,000. Northern Capital Management Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $217,000. Finally, Gallacher Capital Management LLC lifted its position in Wells Fargo & Company by 10.9% in the fourth quarter. Gallacher Capital Management LLC now owns 9,192 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 902 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Trading Up 3.6 %

Shares of NYSE WFC opened at $70.96 on Monday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50 day moving average is $75.89 and its two-hundred day moving average is $69.01. The stock has a market capitalization of $233.31 billion, a P/E ratio of 13.19, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for 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%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wells Fargo & 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.