Gofen & Glossberg LLC IL Has $11.55 Million Position in Wells Fargo & Co (WFC)

Gofen & Glossberg LLC IL decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 3.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 239,001 shares of the financial services provider’s stock after selling 9,007 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Wells Fargo & Co were worth $11,549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Federated Investors Inc. PA increased its stake in Wells Fargo & Co by 140.8% during the 3rd quarter. Federated Investors Inc. PA now owns 550,093 shares of the financial services provider’s stock worth $28,913,000 after acquiring an additional 321,605 shares during the period. Moody National Bank Trust Division increased its stake in Wells Fargo & Co by 0.9% during the 4th quarter. Moody National Bank Trust Division now owns 306,828 shares of the financial services provider’s stock worth $14,139,000 after acquiring an additional 2,700 shares during the period. Packer & Co Ltd increased its stake in Wells Fargo & Co by 87.9% during the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the financial services provider’s stock worth $30,404,000 after acquiring an additional 580,000 shares during the period. Salem Capital Management Inc. increased its stake in Wells Fargo & Co by 21.5% during the 4th quarter. Salem Capital Management Inc. now owns 55,141 shares of the financial services provider’s stock worth $2,541,000 after acquiring an additional 9,775 shares during the period. Finally, Curbstone Financial Management Corp increased its stake in Wells Fargo & Co by 10.5% during the 4th quarter. Curbstone Financial Management Corp now owns 35,566 shares of the financial services provider’s stock worth $1,972,000 after acquiring an additional 3,386 shares during the period. Institutional investors own 72.15% of the company’s stock.

Shares of WFC opened at $48.43 on Tuesday. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $59.53. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.88. The firm has a market capitalization of $237.30 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.09.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The company had revenue of $21.61 billion for the quarter, compared to analyst estimates of $20.89 billion. During the same quarter last year, the company posted $0.96 EPS. Equities research analysts expect that Wells Fargo & Co will post 4.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.10%.

A number of equities analysts have commented on the company. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Raymond James upgraded Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price objective on the stock in a research note on Friday, March 29th. Deutsche Bank lowered Wells Fargo & Co from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $56.00 to $54.00 in a research note on Friday, March 29th. Keefe, Bruyette & Woods lowered Wells Fargo & Co from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $58.00 to $50.00 in a research note on Sunday, March 31st. Finally, Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Saturday, January 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $56.35.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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