Wells Fargo & Co (NYSE:WFC) Holdings Decreased by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Wells Fargo & Co (NYSE:WFC) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,878 shares of the financial services provider’s stock after selling 796 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Wells Fargo & Co were worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management of Virginia LLC lifted its holdings in shares of Wells Fargo & Co by 0.8% in the third quarter. Investment Management of Virginia LLC now owns 238,729 shares of the financial services provider’s stock valued at $12,042,000 after buying an additional 1,787 shares during the period. Loudon Investment Management LLC raised its position in Wells Fargo & Co by 16.8% during the third quarter. Loudon Investment Management LLC now owns 31,011 shares of the financial services provider’s stock valued at $1,564,000 after buying an additional 4,465 shares during the period. Harrington Investments INC acquired a new position in Wells Fargo & Co during the third quarter valued at $212,000. Vestmark Advisory Solutions Inc. raised its position in Wells Fargo & Co by 34.9% during the third quarter. Vestmark Advisory Solutions Inc. now owns 79,394 shares of the financial services provider’s stock valued at $4,005,000 after buying an additional 20,538 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Wells Fargo & Co by 779.1% during the third quarter. Tower Research Capital LLC TRC now owns 148,744 shares of the financial services provider’s stock valued at $7,502,000 after buying an additional 131,824 shares during the period. Institutional investors and hedge funds own 78.20% of the company’s stock.

NYSE WFC traded up $0.14 on Tuesday, reaching $54.19. The stock had a trading volume of 11,287,032 shares, compared to its average volume of 20,618,104. The business has a 50 day moving average price of $50.61 and a 200 day moving average price of $47.67. The company has a current ratio of 0.86, a quick ratio of 0.85 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 company has a market capitalization of $228.81 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.13 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.23). Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The firm had revenue of $22.01 billion during the quarter, compared to analysts’ expectations of $21.32 billion. During the same quarter last year, the firm earned $1.13 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Co will post 4.46 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.76%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 46.58%.

Several research firms recently weighed in on WFC. Robert W. Baird lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research 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 research report on Monday, September 30th. Odeon Capital Group lowered Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Piper Jaffray Companies set a $46.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, September 9th. Finally, Bank of America set a $50.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.75.

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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