Fiduciary Group LLC Has $5.53 Million Position in Wells Fargo & Co (WFC)

Fiduciary Group LLC raised its stake in Wells Fargo & Co (NYSE:WFC) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,254 shares of the financial services provider’s stock after buying an additional 3,243 shares during the quarter. Wells Fargo & Co comprises approximately 1.1% of Fiduciary Group LLC’s investment portfolio, making the stock its 29th biggest holding. Fiduciary Group LLC’s holdings in Wells Fargo & Co were worth $5,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Landaas & Co. WI ADV bought a new stake in shares of Wells Fargo & Co in the second quarter worth $117,000. Parkside Investments LLC bought a new stake in shares of Wells Fargo & Co in the third quarter worth $174,000. Cerebellum GP LLC bought a new stake in shares of Wells Fargo & Co in the third quarter worth $179,000. Stelac Advisory Services LLC lifted its position in shares of Wells Fargo & Co by 99.3% in the first quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Diligent Investors LLC bought a new stake in shares of Wells Fargo & Co in the second quarter worth $200,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the company’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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

A number of brokerages have recently commented on WFC. Zacks Investment Research lowered shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Macquarie lowered shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday, September 7th. They noted that the move was a valuation call. Morgan Stanley raised shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $57.00 to $62.00 in a research report on Monday, July 2nd. Keefe, Bruyette & Woods raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Wells Fargo & Co has an average rating of “Hold” and an average target price of $63.79.

NYSE WFC opened at $52.89 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Co has a 1 year low of $50.26 and a 1 year high of $66.31. The firm has a market cap of $265.64 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.15 and a beta of 1.15.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. The firm had revenue of $21.94 billion for the quarter, compared to the consensus estimate of $21.90 billion. Equities research analysts anticipate that Wells Fargo & Co will post 4.5 EPS for the current year.

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

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