West Oak Capital LLC Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

West Oak Capital LLC lowered its position in Wells Fargo & Company (NYSE:WFCFree Report) by 50.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,700 shares of the financial services provider’s stock after selling 6,925 shares during the quarter. West Oak Capital LLC’s holdings in Wells Fargo & Company were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $160,529,000. Marshall Wace LLP raised its stake in Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after buying an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after acquiring an additional 1,659,716 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.9 %

NYSE WFC opened at $70.59 on Tuesday. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $235.03 billion, a PE ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a fifty day moving average of $72.27 and a 200 day moving average of $63.07.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 EPS. Research analysts forecast that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WFC. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup increased their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Finally, Barclays raised their price objective on Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.92.

Get Our Latest Report on Wells Fargo & Company

About Wells Fargo & Company

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

Further Reading

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

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