Wells Fargo & Co (WFC) Position Cut by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lessened its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 576,876 shares of the financial services provider’s stock after selling 40,985 shares during the period. Wells Fargo & Co makes up about 2.5% of Farmers & Merchants Investments Inc.’s portfolio, making the stock its 4th biggest holding. Farmers & Merchants Investments Inc.’s holdings in Wells Fargo & Co were worth $31,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of WFC. Delphi Private Advisors LLC grew its position in Wells Fargo & Co by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares during the period. Brick & Kyle Associates grew its position in shares of Wells Fargo & Co by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Wells Fargo & Co during the 2nd quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Wells Fargo & Co by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares during the period. Finally, Clear Investment Research LLC acquired a new stake in shares of Wells Fargo & Co during the 2nd quarter valued at about $121,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

In related news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on 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. In the last quarter, insiders have sold 184,482 shares of company stock valued at $10,471,050. Insiders own 0.22% of the company’s stock.

Several research firms recently issued reports on WFC. Citigroup reiterated a “buy” rating and issued a $65.00 price objective (up from $60.00) on shares of Wells Fargo & Co in a report on Monday, October 9th. Robert W. Baird reiterated a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Co in a report on Friday, October 6th. Instinet reiterated a “buy” rating and issued a $65.00 price objective (up from $64.00) on shares of Wells Fargo & Co in a report on Saturday, September 30th. Nomura lifted their price objective on Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Hold” and an average price target of $61.02.

Wells Fargo & Co (NYSE WFC) traded down $0.46 during trading hours on Friday, hitting $62.55. 24,861,800 shares of the company’s stock traded hands, compared to its average volume of 20,510,000. The firm has a market capitalization of $308,240.00, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.72 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $63.67.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.13. The business had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. research analysts expect that Wells Fargo & Co will post 3.98 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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