Somerville Kurt F Has $290,000 Stake in Wells Fargo & Co (NYSE:WFC)

Somerville Kurt F cut its stake in Wells Fargo & Co (NYSE:WFC) by 50.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,250 shares of the financial services provider’s stock after selling 5,300 shares during the period. Somerville Kurt F’s holdings in Wells Fargo & Co were worth $290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Delphi Private Advisors LLC lifted its position in Wells Fargo & Co by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in Wells Fargo & Co during the second quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC lifted its position in Wells Fargo & Co by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares in the last quarter. Clear Investment Research LLC acquired a new position in Wells Fargo & Co during the second quarter valued at approximately $121,000. Finally, Westside Investment Management Inc. lifted its position in Wells Fargo & Co by 63.9% during the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after buying an additional 891 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on WFC. BMO Capital Markets reaffirmed a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price objective on the stock in a research note on Wednesday. Vining Sparks reiterated a “buy” rating and set a $75.00 price objective on shares of Wells Fargo & Co in a research note on Monday, January 8th. Vetr lowered shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price objective on the stock. in a research note on Monday, January 8th. Finally, Sandler O’Neill upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.04 to $73.00 in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $60.89.

Shares of Wells Fargo & Co (NYSE WFC) opened at $62.55 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The stock has a market cap of $308,240.00, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.66 and a beta of 0.96. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $63.67.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. analysts expect that Wells Fargo & Co will post 3.98 EPS for the current year.

In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,482 shares of company stock valued at $10,471,050. Insiders own 0.22% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.thelincolnianonline.com/2018/01/14/somerville-kurt-f-sells-5300-shares-of-wells-fargo-co-wfc-updated-updated.html.

About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply