Sage Capital Advisors llc increased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 17.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 51,173 shares of the financial services provider’s stock after purchasing an additional 7,435 shares during the period. Wells Fargo & Co accounts for approximately 2.0% of Sage Capital Advisors llc’s holdings, making the stock its 17th largest position. Sage Capital Advisors llc’s holdings in Wells Fargo & Co were worth $2,822,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Stelac Advisory Services LLC acquired a new stake in Wells Fargo & Co in the second quarter valued at $104,000. Patriot Financial Group Insurance Agency LLC boosted its position in Wells Fargo & Co by 0.3% during 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 acquiring an additional 6 shares during the last quarter. Westside Investment Management Inc. boosted its position in Wells Fargo & Co by 63.9% during the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 891 shares during the last quarter. BKS Advisors LLC bought a new stake in Wells Fargo & Co during the third quarter valued at $143,000. Finally, BDO Wealth Advisors LLC bought a new position in shares of Wells Fargo & Co during the 2nd quarter worth about $151,000. Institutional investors own 77.39% of the company’s stock.
In related news, Director Ronald Sargent acquired 9,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $55.98 per share, with a total value of $503,820.00. Following the completion of the acquisition, the director now directly owns 81 shares of the company’s stock, valued at $4,534.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by insiders.
A number of research firms have recently issued reports on WFC. Bank of America cut their price objective on shares of Wells Fargo & Co from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Morgan Stanley lowered shares of Wells Fargo & Co from an “equal weight” rating to an “underweight” rating in a report on Monday, February 5th. JPMorgan Chase & Co. lowered shares of Wells Fargo & Co from a “neutral” rating to an “underweight” rating in a research note on Monday, February 5th. Vining Sparks reiterated a “buy” rating and issued a $75.00 price objective on shares of Wells Fargo & Co in a research note on Monday, January 8th. Finally, UBS Group set a $63.00 price target on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, February 5th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.90.
Shares of Wells Fargo & Co (NYSE WFC) traded down $0.21 during midday trading on Monday, hitting $58.02. 12,414,478 shares of the stock traded hands, compared to its average volume of 27,470,000. The company has a market capitalization of $285,710.00, a P/E ratio of 16.07, a PEG ratio of 1.52 and a beta of 1.08. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.
Wells Fargo & Co (NYSE:WFC) last issued its earnings results 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 firm had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter in the prior year, the company posted $0.96 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. equities research analysts forecast that Wells Fargo & Co will post 4.72 earnings per share for the current year.
Wells Fargo & Co announced that its Board of Directors has approved a share buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 2.69%. Wells Fargo & Co’s payout ratio is 43.21%.
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Wells Fargo & Co 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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