W.G. Shaheen & Associates DBA Whitney & Co lessened its position in shares of Wells Fargo (NYSE:WFC) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,349 shares of the financial services provider’s stock after selling 4,708 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Wells Fargo were worth $4,147,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of WFC. Beach Investment Management LLC. purchased a new position in Wells Fargo in the 2nd quarter worth approximately $1,010,000. Nations Financial Group Inc. IA ADV grew its stake in Wells Fargo by 21.4% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 5,483 shares of the financial services provider’s stock worth $304,000 after buying an additional 968 shares in the last quarter. Regal Investment Advisors LLC grew its stake in Wells Fargo by 567.0% in the 2nd quarter. Regal Investment Advisors LLC now owns 44,181 shares of the financial services provider’s stock worth $2,448,000 after buying an additional 37,557 shares in the last quarter. Holowesko Partners Ltd. grew its stake in Wells Fargo by 0.6% in the 2nd quarter. Holowesko Partners Ltd. now owns 2,052,981 shares of the financial services provider’s stock worth $113,756,000 after buying an additional 13,000 shares in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd grew its stake in Wells Fargo by 9.6% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 477,780 shares of the financial services provider’s stock worth $26,474,000 after buying an additional 42,037 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors and hedge funds.
WFC has been the subject of a number of research reports. Barclays boosted their price target on shares of Wells Fargo from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Sanford C. Bernstein raised shares of Wells Fargo from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $64.00 to $69.00 in a research note on Wednesday, January 3rd. BMO Capital Markets reissued a “hold” rating and issued a $59.00 price target on shares of Wells Fargo in a research note on Thursday, January 4th. Vining Sparks reissued a “buy” rating and issued a $75.00 price target on shares of Wells Fargo in a research note on Monday, January 8th. Finally, Vetr cut shares of Wells Fargo from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research note on Monday, January 8th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.31.
Shares of WFC opened at $52.56 on Monday. The firm has a market cap of $256,374.75, a price-to-earnings ratio of 12.79, a PEG ratio of 1.42 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo has a twelve month low of $49.27 and a twelve month high of $66.31.
Wells Fargo (NYSE:WFC) last announced its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $21.74 billion. Wells Fargo had a net margin of 22.80% and a return on equity of 12.44%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. equities research analysts forecast that Wells Fargo will post 4.57 EPS for the current fiscal year.
Wells Fargo announced that its Board of Directors has authorized a stock buyback plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Ronald Sargent purchased 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $55.98 per share, with a total value of $503,820.00. Following the transaction, the director now directly owns 81 shares of the company’s stock, valued at approximately $4,534.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Wells Fargo Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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