Telemark Asset Management LLC bought a new stake in shares of Wells Fargo & Co (NYSE:WFC) during the fourth quarter, Holdings Channel reports. The fund bought 150,000 shares of the financial services provider’s stock, valued at approximately $8,267,000. Wells Fargo & Co makes up about 1.8% of Telemark Asset Management LLC’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Trent Capital Management Inc. NC purchased a new position in Wells Fargo & Co during the fourth quarter valued at $102,000. Integrated Wealth Counsel LLC boosted its position in Wells Fargo & Co by 17.8% in the third quarter. Integrated Wealth Counsel LLC now owns 2,408 shares of the financial services provider’s stock valued at $107,000 after buying an additional 363 shares in the last quarter. Coconut Grove Bank boosted its position in Wells Fargo & Co by 54.9% in the third quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider’s stock valued at $112,000 after buying an additional 900 shares in the last quarter. Cable Hill Partners LLC boosted its position in Wells Fargo & Co by 10.5% in the third quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider’s stock valued at $117,000 after buying an additional 247 shares in the last quarter. Finally, Timber Creek Capital Management LLC boosted its position in Wells Fargo & Co by 30.0% in the third quarter. Timber Creek Capital Management LLC now owns 3,033 shares of the financial services provider’s stock valued at $134,000 after buying an additional 700 shares in the last quarter. 73.25% of the stock is owned by institutional investors and hedge funds.

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

Wells Fargo & Co (NYSE:WFC) opened at 57.63 on Tuesday. The firm has a 50-day moving average price of $57.80 and a 200-day moving average price of $52.28. Wells Fargo & Co has a 52-week low of $43.55 and a 52-week high of $59.99. The company has a market cap of $288.34 billion, a PE ratio of 14.44 and a beta of 0.98.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, January 13th. The financial services provider reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.04. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. The firm earned $21.60 billion during the quarter. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Co will post $4.20 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Wednesday, February 1st. Wells Fargo & Co’s payout ratio is 38.10%.

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WFC has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, January 16th. Evercore ISI reaffirmed a “buy” rating and set a $51.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 11th. Argus cut shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $53.00 to $53.78 in a research report on Wednesday, January 18th. Barclays PLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, January 10th. Finally, FBR & Co reaffirmed a “market perform” rating and set a $55.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, January 17th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and a consensus target price of $53.01.

In other news, insider David M. Carroll sold 117,704 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $59.02, for a total value of $6,946,890.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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