Argyle Capital Management Inc. Sells 10,000 Shares of Wells Fargo & Company (NYSE:WFC)

Argyle Capital Management Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 17.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 48,043 shares of the financial services provider’s stock after selling 10,000 shares during the period. Argyle Capital Management Inc.’s holdings in Wells Fargo & Company were worth $2,365,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Meridian Wealth Partners LLC increased its holdings in shares of Wells Fargo & Company by 1.3% during the 4th quarter. Meridian Wealth Partners LLC now owns 41,935 shares of the financial services provider’s stock worth $2,064,000 after purchasing an additional 540 shares during the period. Convergence Investment Partners LLC lifted its position in shares of Wells Fargo & Company by 182.5% during the 4th quarter. Convergence Investment Partners LLC now owns 41,628 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 26,891 shares during the period. Unique Wealth Strategies LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $918,000. Consolidated Planning Corp acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $259,000. Finally, Intact Investment Management Inc. grew its position in Wells Fargo & Company by 21.0% in the fourth quarter. Intact Investment Management Inc. now owns 235,700 shares of the financial services provider’s stock valued at $11,601,000 after acquiring an additional 40,900 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.0 %

NYSE WFC traded down $0.02 during mid-day trading on Friday, hitting $59.91. The company’s stock had a trading volume of 18,785,900 shares, compared to its average volume of 18,078,044. The firm has a market capitalization of $212.11 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.19. The company’s 50 day simple moving average is $56.93 and its 200 day simple moving average is $49.70. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. Analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Analyst Ratings Changes

WFC has been the topic of several recent analyst reports. Robert W. Baird restated a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Piper Sandler lowered their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Finally, Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a research note on Thursday, January 18th. Thirteen 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $58.85.

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.