Pavion Blue Capital LLC Reduces Holdings in Wells Fargo & Company (NYSE:WFC)

Pavion Blue Capital LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 50,772 shares of the financial services provider’s stock after selling 169 shares during the period. Wells Fargo & Company makes up about 1.7% of Pavion Blue Capital LLC’s portfolio, making the stock its 17th biggest holding. Pavion Blue Capital LLC’s holdings in Wells Fargo & Company were worth $3,566,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Howard Capital Management Inc. grew its stake in Wells Fargo & Company by 4.7% in the 4th quarter. Howard Capital Management Inc. now owns 25,885 shares of the financial services provider’s stock worth $1,818,000 after acquiring an additional 1,154 shares during the period. Wealthspire Advisors LLC grew its stake in Wells Fargo & Company by 11.9% in the 4th quarter. Wealthspire Advisors LLC now owns 23,611 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 2,507 shares during the period. Tradewinds Capital Management LLC grew its stake in Wells Fargo & Company by 82.4% in the 4th quarter. Tradewinds Capital Management LLC now owns 7,732 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 3,494 shares during the period. Callan Capital LLC grew its stake in Wells Fargo & Company by 6.2% in the 4th quarter. Callan Capital LLC now owns 6,397 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 373 shares during the period. Finally, Winebrenner Capital Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $1,585,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.43 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company’s 50-day simple moving average is $75.20 and its 200-day simple moving average is $67.01. The stock has a market capitalization of $257.81 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.