BTR Capital Management Inc. Raises Position in Wells Fargo & Co (WFC)

BTR Capital Management Inc. increased its holdings in Wells Fargo & Co (NYSE:WFC) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,358 shares of the financial services provider’s stock after buying an additional 1,525 shares during the quarter. BTR Capital Management Inc.’s holdings in Wells Fargo & Co were worth $1,333,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WFC. Cedar Capital LLC grew its stake in shares of Wells Fargo & Co by 13.3% during the 2nd quarter. Cedar Capital LLC now owns 7,383 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 867 shares during the period. Kessler Investment Group LLC grew its stake in shares of Wells Fargo & Co by 2.3% during the 2nd quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock worth $2,144,000 after purchasing an additional 875 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Wells Fargo & Co by 18.4% during the 2nd quarter. Proficio Capital Partners LLC now owns 5,699 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 886 shares during the period. GHP Investment Advisors Inc. grew its stake in shares of Wells Fargo & Co by 2.9% during the 2nd quarter. GHP Investment Advisors Inc. now owns 31,775 shares of the financial services provider’s stock worth $1,762,000 after purchasing an additional 886 shares during the period. Finally, Community Trust & Investment Co. grew its stake in shares of Wells Fargo & Co by 13.1% during the 2nd quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 894 shares during the period. Institutional investors own 77.57% of the company’s stock.

Shares of NYSE:WFC opened at $53.19 on Monday. Wells Fargo & Co has a 1 year low of $50.26 and a 1 year high of $66.31. The company has a market cap of $256.37 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. The business had revenue of $21.55 billion for the quarter, compared to analysts’ expectations of $21.52 billion. Sell-side analysts expect that Wells Fargo & Co will post 4.55 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the stock. ValuEngine cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, July 13th. Finally, Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $57.00 to $62.00 in a research report on Monday, July 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.86.

In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the transaction, the executive vice president now owns 109 shares in the company, valued at approximately $6,323.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

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

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