Delta Asset Management LLC TN Sells 7,857 Shares of Wells Fargo & Company (NYSE:WFC)

Delta Asset Management LLC TN trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 466,075 shares of the financial services provider’s stock after selling 7,857 shares during the period. Wells Fargo & Company comprises about 2.2% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 16th largest position. Delta Asset Management LLC TN’s holdings in Wells Fargo & Company were worth $22,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company in the fourth quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.9 %

WFC stock traded down $0.53 during midday trading on Wednesday, hitting $60.93. The company’s stock had a trading volume of 10,292,920 shares, compared to its average volume of 18,569,752. The company’s fifty day moving average price is $58.87 and its 200 day moving average price is $52.15. 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 has a twelve month low of $38.38 and a twelve month high of $62.55. The stock has a market capitalization of $212.42 billion, a P/E ratio of 12.75, a PEG ratio of 1.17 and a beta of 1.18.

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, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Ratings Changes

Several equities research analysts have recently commented on WFC shares. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Argus boosted their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Finally, Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.99.

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.