HM Payson & Co. increased its position in Wells Fargo & Co (NYSE:WFC) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 360,600 shares of the financial services provider’s stock after acquiring an additional 61,223 shares during the period. HM Payson & Co.’s holdings in Wells Fargo & Co were worth $19,400,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of WFC. Spectrum Asset Management Inc. NB CA grew its holdings in shares of Wells Fargo & Co by 6.8% during the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 71,656 shares of the financial services provider’s stock worth $3,614,000 after purchasing an additional 4,540 shares during the period. Psagot Investment House Ltd. raised its position in Wells Fargo & Co by 622.4% in the third quarter. Psagot Investment House Ltd. now owns 369,615 shares of the financial services provider’s stock valued at $18,643,000 after purchasing an additional 318,451 shares during the period. Voya Financial Advisors Inc. raised its position in Wells Fargo & Co by 4.5% in the third quarter. Voya Financial Advisors Inc. now owns 144,766 shares of the financial services provider’s stock valued at $7,341,000 after purchasing an additional 6,245 shares during the period. Redpoint Investment Management Pty Ltd lifted its stake in shares of Wells Fargo & Co by 2.0% during the third quarter. Redpoint Investment Management Pty Ltd now owns 304,326 shares of the financial services provider’s stock worth $15,350,000 after purchasing an additional 6,019 shares in the last quarter. Finally, MV Capital Management Inc. lifted its stake in shares of Wells Fargo & Co by 49.3% during the third quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.
In other news, CEO Charles W. Scharf bought 173,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $28.69 per share, for a total transaction of $4,963,370.00. Following the completion of the transaction, the chief executive officer now directly owns 176,916 shares of the company’s stock, valued at approximately $5,075,720.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Noski acquired 20,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $29.53 per share, for a total transaction of $590,600.00. Following the purchase, the director now directly owns 74 shares in the company, valued at approximately $2,185.22. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.
WFC has been the subject of a number of recent research reports. Odeon Capital Group upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet cut Wells Fargo & Co from a “b” rating to a “c+” rating in a report on Wednesday, February 12th. Cfra raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $42.00 in a research report on Wednesday, March 4th. UBS Group lowered their price objective on shares of Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada lowered shares of Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $48.00 to $42.00 in a research note on Thursday, January 16th. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.42.
Shares of NYSE WFC traded up $1.11 during trading on Thursday, reaching $30.08. The stock had a trading volume of 11,999,636 shares, compared to its average volume of 52,025,180. Wells Fargo & Co has a one year low of $25.10 and a one year high of $54.75. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.87. The stock has a market cap of $118.27 billion, a PE ratio of 7.48, a P/E/G ratio of 0.72 and a beta of 1.14. The firm’s 50 day moving average price is $39.99 and its two-hundred day moving average price is $48.49.
Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The company had revenue of $19.86 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Co will post 3.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 7th were given a $0.51 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $2.04 annualized dividend and a yield of 6.78%. Wells Fargo & Co’s dividend payout ratio is presently 46.58%.
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. 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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