Great Lakes Advisors LLC Has $47.29 Million Stake in Wells Fargo & Company (WFC)
Great Lakes Advisors LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 33.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 853,499 shares of the financial services provider’s stock after selling 425,966 shares during the quarter. Great Lakes Advisors LLC’s holdings in Wells Fargo & were worth $47,292,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Delphi Private Advisors LLC increased its holdings in shares of Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the period. Brick & Kyle Associates increased its holdings in shares of Wells Fargo & by 9.5% in 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 purchased a new position in shares of Wells Fargo & in the 2nd quarter valued at $104,000. Clear Investment Research LLC purchased a new position in shares of Wells Fargo & in the 2nd quarter valued at $121,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Wells Fargo & in the 1st quarter valued at $124,000. Institutional investors and hedge funds own 75.86% of the company’s stock.
A number of research firms have recently weighed in on WFC. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, October 11th. Vetr raised Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price objective for the company in a research report on Tuesday, October 24th. Vertical Group began coverage on Wells Fargo & in a research report on Friday, October 6th. They issued a “sell” rating for the company. Finally, Credit Suisse Group reissued a “hold” rating and issued a $57.00 price objective on shares of Wells Fargo & in a research report on Tuesday, October 10th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.20.
Wells Fargo & Company (NYSE WFC) opened at $53.75 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 52 week low of $49.27 and a 52 week high of $59.99. The firm has a market capitalization of $265,610.00, a PE ratio of 12.98, a P/E/G ratio of 1.29 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 9.33% and a net margin of 21.23%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Wells Fargo &’s quarterly revenue was down 1.8% on a year-over-year basis. research analysts forecast that Wells Fargo & Company will post 3.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.90%. Wells Fargo &’s dividend payout ratio (DPR) is currently 40.31%.
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About Wells Fargo &
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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