Greatmark Investment Partners Inc. decreased its stake in Wells Fargo (NYSE:WFC) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,371 shares of the financial services provider’s stock after selling 2,545 shares during the quarter. Wells Fargo comprises 1.7% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 21st biggest holding. Greatmark Investment Partners Inc.’s holdings in Wells Fargo were worth $4,815,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the company. Beach Investment Management LLC. purchased a new position in Wells Fargo during the 2nd quarter valued at $1,010,000. Cornerstone Advisory LLP boosted its holdings in Wells Fargo by 9.7% during the 2nd quarter. Cornerstone Advisory LLP now owns 15,639 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 1,386 shares during the period. Atwood & Palmer Inc. boosted its holdings in Wells Fargo by 26.2% during the 2nd quarter. Atwood & Palmer Inc. now owns 28,894 shares of the financial services provider’s stock valued at $1,601,000 after acquiring an additional 6,000 shares during the period. Micawber Capital LLC boosted its holdings in Wells Fargo by 37.5% during the 2nd quarter. Micawber Capital LLC now owns 18,051 shares of the financial services provider’s stock valued at $1,000,000 after acquiring an additional 4,923 shares during the period. Finally, Heartland Advisors Inc. boosted its holdings in Wells Fargo by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after acquiring an additional 10,318 shares during the period. Hedge funds and other institutional investors own 77.32% of the company’s stock.
In other Wells Fargo news, Director Ronald Sargent bought 9,000 shares of Wells Fargo stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $55.98 per share, with a total value of $503,820.00. Following the transaction, the director now directly owns 81 shares of the company’s stock, valued at approximately $4,534.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.
WFC stock opened at $50.98 on Friday. The company has a market capitalization of $267,252.16, a price-to-earnings ratio of 12.53, a PEG ratio of 1.43 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. Wells Fargo has a 1 year low of $49.27 and a 1 year high of $66.31.
Wells Fargo (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo had a return on equity of 12.24% and a net margin of 22.57%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. research analysts anticipate that Wells Fargo will post 4.72 earnings per share for the current year.
Wells Fargo declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo’s dividend payout ratio is currently 38.33%.
Wells Fargo Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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