Wells Fargo & Company (WFC) is Butensky & Cohen Financial Security Inc.’s 4th Largest Position
Butensky & Cohen Financial Security Inc. boosted its position in Wells Fargo & Company (NYSE:WFC) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 39,015 shares of the financial services provider’s stock after buying an additional 760 shares during the period. Wells Fargo & comprises approximately 1.9% of Butensky & Cohen Financial Security Inc.’s investment portfolio, making the stock its 4th largest position. Butensky & Cohen Financial Security Inc.’s holdings in Wells Fargo & were worth $2,162,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Alexandria Capital LLC increased its stake in Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares during the period. Brick & Kyle Associates increased its stake in Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Wells Fargo & during the first quarter worth $124,000. Gradient Investments LLC increased its stake in Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock worth $139,000 after buying an additional 921 shares during the period. Finally, America First Investment Advisors LLC increased its stake in Wells Fargo & by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock worth $145,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 75.85% of the company’s stock.
Shares of Wells Fargo & Company (WFC) traded down 0.02% during midday trading on Friday, reaching $51.94. 14,714,450 shares of the company were exchanged. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The company has a market capitalization of $257.83 billion, a P/E ratio of 12.79 and a beta of 0.95. The stock has a 50-day moving average price of $54.25 and a 200 day moving average price of $55.00.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. During the same period in the previous year, the business earned $1.01 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.
Wells Fargo & announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a $0.39 dividend. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, August 2nd. Wells Fargo &’s payout ratio is presently 38.42%.
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A number of research firms have weighed in on WFC. BidaskClub upgraded Wells Fargo & from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. BMO Capital Markets upgraded Wells Fargo & from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $50.00 to $47.00 in a research report on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies restated a “hold” rating on shares of Wells Fargo & in a research report on Sunday, July 30th. Keefe, Bruyette & Woods restated an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $60.00 target price on shares of Wells Fargo & in a research report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & presently has an average rating of “Hold” and a consensus price target of $55.87.
In other Wells Fargo & news, insider Michael J. Loughlin sold 20,000 shares of Wells Fargo & stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.16, for a total value of $1,043,200.00. Following the sale, the insider now directly owns 7 shares in the company, valued at approximately $365.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Carroll sold 27,582 shares of Wells Fargo & stock in a transaction on Friday, June 9th. The shares were sold at an average price of $53.28, for a total transaction of $1,469,568.96. The disclosure for this sale can be found here. Insiders sold a total of 131,278 shares of company stock worth $6,940,120 over the last quarter. Company insiders own 0.22% of the company’s stock.
Wells Fargo & Company 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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