Schwab Charles Investment Management Inc. raised its stake in shares of Wells Fargo & Co (NYSE:WFC) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 15,796,445 shares of the financial services provider’s stock after purchasing an additional 537,342 shares during the quarter. Wells Fargo & Co comprises 0.8% of Schwab Charles Investment Management Inc.’s holdings, making the stock its 21st biggest position. Schwab Charles Investment Management Inc.’s holdings in Wells Fargo & Co were worth $958,371,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Wells Fargo & Co by 4.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 21,386 shares of the financial services provider’s stock valued at $1,297,000 after acquiring an additional 868 shares during the period. HWG Holdings LP bought a new stake in shares of Wells Fargo & Co in the fourth quarter valued at approximately $701,000. Coastline Trust Co boosted its position in shares of Wells Fargo & Co by 1.8% in the fourth quarter. Coastline Trust Co now owns 65,667 shares of the financial services provider’s stock valued at $3,984,000 after acquiring an additional 1,130 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Wells Fargo & Co by 44.7% in the fourth quarter. Koshinski Asset Management Inc. now owns 17,660 shares of the financial services provider’s stock valued at $1,071,000 after acquiring an additional 5,452 shares during the period. Finally, First National Trust Co boosted its position in shares of Wells Fargo & Co by 1.9% in the fourth quarter. First National Trust Co now owns 146,204 shares of the financial services provider’s stock valued at $8,871,000 after acquiring an additional 2,719 shares during the period. Institutional investors own 75.69% of the company’s stock.
In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald Sargent acquired 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $55.98 per share, with a total value of $503,820.00. Following the completion of the purchase, the director now directly owns 81 shares of the company’s stock, valued at $4,534.38. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company’s stock.
Wells Fargo & Co (NYSE:WFC) opened at $58.38 on Thursday. 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 has a 12 month low of $49.27 and a 12 month high of $66.31. The stock has a market capitalization of $287,630.00, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01.
Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. 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 company earned $0.96 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. equities analysts anticipate that Wells Fargo & Co will post 4.72 EPS for the current fiscal year.
Wells Fargo & Co announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.67%. Wells Fargo & Co’s dividend payout ratio is currently 45.22%.
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About Wells Fargo & Co
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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