Wells Fargo & Co (WFC) Shares Sold by River Wealth Advisors LLC
River Wealth Advisors LLC cut its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,787 shares of the financial services provider’s stock after selling 1,025 shares during the period. River Wealth Advisors LLC’s holdings in Wells Fargo & Co were worth $1,202,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Vantage Financial Partners Ltd. Inc. bought a new position in Wells Fargo & Co in the 2nd quarter valued at $1,095,000. Stelac Advisory Services LLC bought a new position in Wells Fargo & Co in the 2nd quarter valued at $104,000. Patriot Financial Group Insurance Agency LLC boosted its position in Wells Fargo & Co by 0.3% in 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 buying an additional 6 shares during the last quarter. Clear Investment Research LLC bought a new position in Wells Fargo & Co in the 2nd quarter valued at $121,000. Finally, Westside Investment Management Inc. boosted its position in Wells Fargo & Co by 63.9% in the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after buying an additional 891 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 in the last ninety days. 0.22% of the stock is currently owned by company insiders.
A number of research analysts have commented on the company. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday. Royal Bank of Canada increased their price target on Wells Fargo & Co to $65.00 and gave the company an “outperform” rating in a research note on Tuesday. Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target on the stock in a research note on Wednesday, January 10th. Sandler O’Neill raised Wells Fargo & Co from a “hold” rating to a “buy” rating and increased their price target for the company from $62.04 to $73.00 in a research note on Tuesday, January 9th. Finally, Vetr downgraded Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price target on the stock. in a research note on Monday, January 8th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.10.
Shares of Wells Fargo & Co (WFC) opened at $62.50 on Wednesday. The company has a market capitalization of $307,990.00, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.65 and a beta of 0.96. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $63.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). The business had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. analysts expect that Wells Fargo & Co will post 4.68 earnings per share for the current fiscal year.
WARNING: “Wells Fargo & Co (WFC) Shares Sold by River Wealth Advisors LLC” was posted by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.dailypolitical.com/2018/01/17/wells-fargo-co-wfc-shares-sold-by-river-wealth-advisors-llc.html.
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.
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).
Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.