Capital Investment Advisors LLC trimmed its stake in shares of Wells Fargo & Co (NYSE:WFC) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 106,724 shares of the financial services provider’s stock after selling 2,201 shares during the quarter. Capital Investment Advisors LLC’s holdings in Wells Fargo & Co were worth $6,475,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Stelac Advisory Services LLC acquired a new stake in shares of Wells Fargo & Co in the second quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Wells Fargo & Co by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of Wells Fargo & Co by 63.9% in the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after buying an additional 891 shares during the last quarter. BKS Advisors LLC acquired a new stake in shares of Wells Fargo & Co in the third quarter valued at about $143,000. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Co in the second quarter valued at about $151,000. 75.69% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Ronald Sargent purchased 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the completion of the transaction, the director now directly owns 81 shares in the company, valued at $4,534.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Shares of Wells Fargo & Co (NYSE WFC) opened at $58.41 on Thursday. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $66.31. The firm has a market cap of $287,630.00, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90.
Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. equities research analysts anticipate that Wells Fargo & Co will post 4.72 EPS for the current year.
Wells Fargo & Co announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is presently 45.22%.
Wells Fargo & Co Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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