Pittenger & Anderson Inc. Lowers Position in Wells Fargo & Company (NYSE:WFC)

Pittenger & Anderson Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 26.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 831 shares of the financial services provider’s stock after selling 304 shares during the period. Pittenger & Anderson Inc.’s holdings in Wells Fargo & Company were worth $41,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $25,000. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC traded up $0.34 during midday trading on Friday, reaching $60.27. The company had a trading volume of 9,926,731 shares, compared to its average volume of 19,002,043. The business has a 50-day moving average of $56.77 and a two-hundred day moving average of $49.42. 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 1 year low of $36.40 and a 1 year high of $61.76. The company has a market cap of $213.38 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.17 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company 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 firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WFC has been the topic of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Jefferies Financial Group lifted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point reiterated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Barclays boosted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.