Greylin Investment Mangement Inc. Reduces Stock Position in Wells Fargo & Co (NYSE:WFC)

Greylin Investment Mangement Inc. cut its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,666 shares of the financial services provider’s stock after selling 5,405 shares during the quarter. Wells Fargo & Co makes up approximately 1.2% of Greylin Investment Mangement Inc.’s holdings, making the stock its 16th largest holding. Greylin Investment Mangement Inc.’s holdings in Wells Fargo & Co were worth $5,229,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Coastal Capital Group Inc. purchased a new stake in Wells Fargo & Co during the 2nd quarter worth approximately $78,000. Little House Capital LLC increased its holdings in shares of Wells Fargo & Co by 372.8% in the 2nd quarter. Little House Capital LLC now owns 149,639 shares of the financial services provider’s stock valued at $7,081,000 after acquiring an additional 117,987 shares during the last quarter. Cibc Bank USA increased its holdings in shares of Wells Fargo & Co by 15.4% in the 2nd quarter. Cibc Bank USA now owns 28,181 shares of the financial services provider’s stock valued at $1,334,000 after acquiring an additional 3,756 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Wells Fargo & Co by 16.3% in the 2nd quarter. Ballentine Partners LLC now owns 22,787 shares of the financial services provider’s stock valued at $1,078,000 after acquiring an additional 3,193 shares during the last quarter. Finally, Calton & Associates Inc. increased its holdings in shares of Wells Fargo & Co by 67.8% in the 2nd quarter. Calton & Associates Inc. now owns 10,772 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 4,354 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

WFC has been the subject of a number of research analyst reports. Bank of America set a $50.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, September 30th. Buckingham Research set a $47.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, September 30th. Citigroup downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating and lowered their price target for the company from $56.00 to $51.00 in a report on Friday, July 12th. Macquarie downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $54.00 to $47.00 in a report on Wednesday, July 17th. Finally, Credit Suisse Group boosted their price target on Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and a consensus target price of $50.48.



WFC traded up $0.97 during trading on Friday, reaching $49.62. 12,988,372 shares of the company were exchanged, compared to its average volume of 23,514,482. The stock has a market cap of $210.70 billion, a P/E ratio of 11.33, a PEG ratio of 0.94 and a beta of 1.11. The firm has a 50 day moving average of $47.90 and a 200 day moving average of $47.14. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.36. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $55.04.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.14. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.95 billion. Wells Fargo & Co had a return on equity of 13.74% and a net margin of 23.26%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. As a group, analysts forecast that Wells Fargo & Co will post 4.77 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has approved a share buyback program on Thursday, June 27th that authorizes the company to buyback $23.10 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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

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