Adams Asset Advisors LLC Has $12.35 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Adams Asset Advisors LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,889 shares of the financial services provider’s stock after selling 944 shares during the quarter. Wells Fargo & Company comprises about 1.6% of Adams Asset Advisors LLC’s portfolio, making the stock its 15th biggest holding. Adams Asset Advisors LLC’s holdings in Wells Fargo & Company were worth $12,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on WFC shares. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.15 during trading hours on Monday, hitting $70.11. 4,630,124 shares of the stock were exchanged, compared to its average volume of 11,707,517. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The company has a market cap of $233.43 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company’s fifty day simple moving average is $72.13 and its two-hundred day simple moving average is $62.97.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 EPS. On average, sell-side analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

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.