Vestmark Advisory Solutions Inc. Has $4.01 Million Stock Holdings in Wells Fargo & Co (NYSE:WFC)

Vestmark Advisory Solutions Inc. lifted its holdings in Wells Fargo & Co (NYSE:WFC) by 34.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 79,394 shares of the financial services provider’s stock after buying an additional 20,538 shares during the quarter. Wells Fargo & Co makes up about 0.6% of Vestmark Advisory Solutions Inc.’s holdings, making the stock its 28th largest holding. Vestmark Advisory Solutions Inc.’s holdings in Wells Fargo & Co were worth $4,005,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Glassman Wealth Services boosted its position in Wells Fargo & Co by 1.2% during the 3rd quarter. Glassman Wealth Services now owns 16,922 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 193 shares during the last quarter. Sky Investment Group LLC boosted its position in Wells Fargo & Co by 3.2% during the 3rd quarter. Sky Investment Group LLC now owns 6,219 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 195 shares during the last quarter. Cardinal Capital Management boosted its position in Wells Fargo & Co by 0.3% during the 3rd quarter. Cardinal Capital Management now owns 79,645 shares of the financial services provider’s stock worth $4,017,000 after acquiring an additional 222 shares during the last quarter. Gilbert & Cook Inc. boosted its position in Wells Fargo & Co by 0.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 40,447 shares of the financial services provider’s stock worth $1,914,000 after acquiring an additional 225 shares during the last quarter. Finally, Vision Capital Management Inc. boosted its position in Wells Fargo & Co by 2.2% during the 3rd quarter. Vision Capital Management Inc. now owns 11,034 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 235 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

A number of equities analysts have weighed in on the company. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Piper Jaffray Companies set a $46.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a research report on Monday, September 9th. BMO Capital Markets reduced their price target on Wells Fargo & Co from $59.00 to $57.00 and set a “market perform” rating for the company in a research report on Wednesday, October 16th. UBS Group downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $51.00 to $49.00 in a research report on Tuesday, September 10th. Finally, Morgan Stanley upped their price target on Wells Fargo & Co from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.75.

Shares of NYSE WFC traded down $0.05 during trading hours on Monday, hitting $54.05. The company had a trading volume of 10,659,438 shares, compared to its average volume of 20,770,246. The stock has a market capitalization of $225.42 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $55.04. The firm’s 50 day moving average is $50.61 and its 200-day moving average is $47.67.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.23). The company had revenue of $22.01 billion during the quarter, compared to analyst estimates of $21.32 billion. Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. On average, sell-side analysts predict that Wells Fargo & Co will post 4.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, November 7th. Wells Fargo & Co’s payout ratio is presently 46.58%.

Wells Fargo & Co announced that its board has approved a stock repurchase plan on Tuesday, July 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management 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. 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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