InterOcean Capital LLC increased its holdings in Wells Fargo & Co (NYSE:WFC) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,135 shares of the financial services provider’s stock after buying an additional 1,330 shares during the quarter. InterOcean Capital LLC’s holdings in Wells Fargo & Co were worth $721,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Financial Advisory Group boosted its holdings in shares of Wells Fargo & Co by 3.9% in the 4th quarter. Financial Advisory Group now owns 5,685 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 213 shares during the last quarter. LVW Advisors LLC lifted its position in Wells Fargo & Co by 0.3% during the fourth quarter. LVW Advisors LLC now owns 76,402 shares of the financial services provider’s stock valued at $4,110,000 after purchasing an additional 229 shares during the period. Omnia Family Wealth LLC boosted its holdings in Wells Fargo & Co by 3.2% in the fourth quarter. Omnia Family Wealth LLC now owns 7,417 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 230 shares during the last quarter. Keel Point LLC grew its position in Wells Fargo & Co by 4.1% during the 4th quarter. Keel Point LLC now owns 5,932 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 234 shares during the period. Finally, Bollard Group LLC grew its position in Wells Fargo & Co by 0.7% during the 4th quarter. Bollard Group LLC now owns 35,252 shares of the financial services provider’s stock worth $1,897,000 after purchasing an additional 235 shares during the period. 74.93% of the stock is owned by institutional investors.
In related news, Director Charles H. Noski acquired 20,000 shares of Wells Fargo & Co stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $29.53 per share, for a total transaction of $590,600.00. Following the completion of the transaction, the director now owns 74 shares in the company, valued at approximately $2,185.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles W. Scharf acquired 173,000 shares of Wells Fargo & Co stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $28.69 per share, for a total transaction of $4,963,370.00. Following the transaction, the chief executive officer now owns 176,916 shares of the company’s stock, valued at approximately $5,075,720.04. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
WFC has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Wells Fargo & Co from $49.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. UBS Group lowered Wells Fargo & Co from a “neutral” rating to a “sell” rating and set a $19.00 price objective on the stock. in a research report on Monday, May 4th. Zacks Investment Research raised shares of Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 target price for the company in a report on Tuesday, March 17th. Deutsche Bank lowered their price target on shares of Wells Fargo & Co from $47.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, April 2nd. Finally, Bank of America restated a “hold” rating and set a $30.00 price target on shares of Wells Fargo & Co in a research report on Wednesday. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.93.
Shares of NYSE WFC traded down $0.29 during midday trading on Friday, hitting $24.17. The stock had a trading volume of 29,967,288 shares, compared to its average volume of 49,031,396. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The stock has a 50 day simple moving average of $27.22 and a 200-day simple moving average of $42.32. The company has a market capitalization of $100.29 billion, a PE ratio of 8.54, a P/E/G ratio of 3.05 and a beta of 1.18. Wells Fargo & Co has a 1 year low of $22.00 and a 1 year high of $54.75.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.85). The firm had revenue of $17.72 billion during the quarter, compared to analyst estimates of $19.40 billion. Wells Fargo & Co had a net margin of 14.52% and a return on equity of 9.28%. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 earnings per share. As a group, analysts expect that Wells Fargo & Co will post 0.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date is Thursday, May 7th. Wells Fargo & Co’s dividend payout ratio (DPR) is 46.58%.
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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