Wells Fargo & Company (WFC) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,671 shares of the financial services provider’s stock after selling 500 shares during the period. Summit Asset Management LLC’s holdings in Wells Fargo & were worth $647,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brick & Kyle Associates grew its position in shares of Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & during the 2nd quarter valued at $104,000. Delphi Private Advisors LLC grew its position in shares of Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the period. Clear Investment Research LLC bought a new stake in shares of Wells Fargo & during the 2nd quarter valued at $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of Wells Fargo & during the 1st quarter valued at $124,000. 75.04% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Wells Fargo & Company (WFC) Shares Sold by Summit Asset Management LLC” was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.themarketsdaily.com/2017/11/13/wells-fargo-company-wfc-shares-sold-by-summit-asset-management-llc.html.

A number of equities research analysts have recently issued reports on WFC shares. Vetr raised shares of Wells Fargo & to a “strong-buy” rating in a research report on Thursday, September 7th. Berenberg Bank downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price objective for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, August 16th. Finally, Robert W. Baird reissued a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.20.

Wells Fargo & Company (NYSE WFC) opened at $53.81 on Monday. The company has a market cap of $265,170.00, a PE ratio of 13.00, a P/E/G ratio of 1.29 and a beta of 0.97. Wells Fargo & Company has a fifty-two week low of $49.27 and a fifty-two week high of $59.99. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. equities analysts predict that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.90%. Wells Fargo &’s payout ratio is 40.31%.

Wells Fargo & Company Profile

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

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

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

Latest News

Leave a Reply