First Republic Investment Management Inc. decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 3.6% during the third quarter, HoldingsChannel.com reports. The firm owned 872,887 shares of the financial services provider’s stock after selling 32,650 shares during the period. First Republic Investment Management Inc.’s holdings in Wells Fargo & Co were worth $48,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Wells Fargo & Co during the 2nd quarter valued at approximately $1,095,000. Stelac Advisory Services LLC purchased a new position in shares of Wells Fargo & Co during the 2nd quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Wells Fargo & Co by 0.3% during 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 in the last quarter. Westside Investment Management Inc. lifted its position in shares of Wells Fargo & Co by 63.9% during 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 in the last quarter. Finally, BKS Advisors LLC purchased a new position in shares of Wells Fargo & Co during the 3rd quarter valued at approximately $143,000. 76.20% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction on Monday, December 4th. The stock was 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. In the last quarter, insiders have sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.

Wells Fargo & Co (NYSE WFC) opened at $56.13 on Friday. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two 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. The company has a market capitalization of $280,040.00, a price-to-earnings ratio of 13.59, a PEG ratio of 1.50 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 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 company had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. research analysts expect that Wells Fargo & Co will post 4.73 earnings per share for the current year.

Wells Fargo & Co declared that its board has approved a stock repurchase program on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Wells Fargo & Co’s dividend payout ratio is presently 37.77%.

A number of research analysts have recently issued reports on the company. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 target price on the stock in a research report on Tuesday, October 24th. UBS Group set a $63.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, February 5th. Vertical Group upgraded Wells Fargo & Co from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods lowered Wells Fargo & Co from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a research report on Sunday, February 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $60.00 price objective on shares of Wells Fargo & Co in a report on Monday, February 5th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Wells Fargo & Co has a consensus rating of “Hold” and an average target price of $76.81.

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

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