ST Germain D J Co. Inc. Boosts Stake in Wells Fargo & Co (WFC)

ST Germain D J Co. Inc. lifted its position in shares of Wells Fargo & Co (NYSE:WFC) by 5.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 184,655 shares of the financial services provider’s stock after acquiring an additional 9,111 shares during the period. ST Germain D J Co. Inc.’s holdings in Wells Fargo & Co were worth $9,705,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Capital LLC raised its position in Wells Fargo & Co by 13.3% during the second quarter. Cedar Capital LLC now owns 7,383 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 867 shares in the last quarter. Kessler Investment Group LLC raised its position in Wells Fargo & Co by 2.3% during the second quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock valued at $2,144,000 after purchasing an additional 875 shares in the last quarter. Proficio Capital Partners LLC raised its position in Wells Fargo & Co by 18.4% during the second quarter. Proficio Capital Partners LLC now owns 5,699 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 886 shares in the last quarter. GHP Investment Advisors Inc. raised its position in Wells Fargo & Co by 2.9% during the second quarter. GHP Investment Advisors Inc. now owns 31,775 shares of the financial services provider’s stock valued at $1,762,000 after purchasing an additional 886 shares in the last quarter. Finally, Community Trust & Investment Co. raised its position in Wells Fargo & Co by 13.1% during the second quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 894 shares in the last quarter. 77.61% of the stock is owned by institutional investors.

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



In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction that occurred on 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. Corporate insiders own 0.09% of the company’s stock.

Shares of NYSE:WFC opened at $51.86 on Friday. Wells Fargo & Co has a 52-week low of $50.02 and a 52-week high of $66.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $251.94 billion, a PE ratio of 12.62, a P/E/G ratio of 1.10 and a beta of 1.15.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $21.90 billion. On average, sell-side analysts anticipate that Wells Fargo & Co will post 4.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 9th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.72 dividend on an annualized basis and a yield of 3.32%. Wells Fargo & Co’s payout ratio is presently 41.85%.

Wells Fargo & Co announced that its board has authorized a share 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. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

About Wells Fargo & Co

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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