Pioneer Trust Bank N A OR Sells 15,000 Shares of Wells Fargo & Company (NYSE:WFC)

Pioneer Trust Bank N A OR trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 71.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,900 shares of the financial services provider’s stock after selling 15,000 shares during the period. Pioneer Trust Bank N A OR’s holdings in Wells Fargo & Company were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Brown Advisory Inc. grew its stake in Wells Fargo & Company by 6.7% during the third quarter. Brown Advisory Inc. now owns 247,652 shares of the financial services provider’s stock valued at $10,119,000 after acquiring an additional 15,658 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Wells Fargo & Company by 13.0% in the third quarter. Mackenzie Financial Corp now owns 1,257,632 shares of the financial services provider’s stock worth $48,633,000 after buying an additional 144,713 shares in the last quarter. Baystate Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 53.0% in the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock worth $33,000 after buying an additional 278 shares in the last quarter. Cambridge Trust Co. grew its holdings in Wells Fargo & Company by 3.0% during the 3rd quarter. Cambridge Trust Co. now owns 15,273 shares of the financial services provider’s stock valued at $624,000 after buying an additional 442 shares in the last quarter. Finally, NBT Bank N A NY grew its holdings in Wells Fargo & Company by 10.8% during the 3rd quarter. NBT Bank N A NY now owns 41,902 shares of the financial services provider’s stock valued at $1,712,000 after buying an additional 4,092 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reaffirmed 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, March 27th. HSBC upped their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Raymond James upped their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.40 on Thursday, hitting $61.28. The company had a trading volume of 14,182,688 shares, compared to its average volume of 18,823,582. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market cap of $213.64 billion, a PE ratio of 12.77, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $37.18 and a 52-week high of $61.76. The business has a 50 day moving average of $57.86 and a 200 day moving average of $50.62.

Wells Fargo & Company (NYSE:WFC) last posted 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 business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

About Wells Fargo & Company

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.