Wells Fargo & Co (WFC) Shares Sold by Ramsay Stattman Vela & Price Inc.

Ramsay Stattman Vela & Price Inc. cut its stake in Wells Fargo & Co (NYSE:WFC) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,684 shares of the financial services provider’s stock after selling 2,030 shares during the period. Ramsay Stattman Vela & Price Inc.’s holdings in Wells Fargo & Co were worth $5,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Investment Advisory Services LLC grew its holdings in Wells Fargo & Co by 18.7% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 9,049 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 1,426 shares in the last quarter. Bush Odonnell Investment Advisors Inc. grew its holdings in Wells Fargo & Co by 6.9% during the 3rd quarter. Bush Odonnell Investment Advisors Inc. now owns 53,024 shares of the financial services provider’s stock worth $2,787,000 after acquiring an additional 3,439 shares in the last quarter. Parsec Financial Management Inc. grew its holdings in Wells Fargo & Co by 4.4% during the 3rd quarter. Parsec Financial Management Inc. now owns 146,669 shares of the financial services provider’s stock worth $7,709,000 after acquiring an additional 6,246 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Wells Fargo & Co by 2.0% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 493,481 shares of the financial services provider’s stock worth $25,937,000 after acquiring an additional 9,503 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in Wells Fargo & Co by 5.4% during the 3rd quarter. Ballentine Partners LLC now owns 21,558 shares of the financial services provider’s stock worth $1,133,000 after acquiring an additional 1,095 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

Several research analysts have issued reports on the stock. Citigroup upgraded shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a report on Friday. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. BMO Capital Markets increased their target price on shares of Wells Fargo & Co to $65.00 and gave the stock a “market perform” rating in a report on Monday, October 15th. Nomura dropped their target price on shares of Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, October 15th. Finally, Macquarie upgraded shares of Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a report on Monday, October 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. Wells Fargo & Co has a consensus rating of “Buy” and a consensus price target of $63.79.

NYSE:WFC opened at $53.61 on Friday. Wells Fargo & Co has a fifty-two week low of $50.02 and a fifty-two week high of $66.31. The stock has a market capitalization of $261.50 billion, a PE ratio of 12.47, a PEG ratio of 1.14 and a beta of 1.01. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

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

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Thursday, November 8th. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.

Wells Fargo & Co declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In other news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the sale, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

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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