Eagle Asset Management Inc. cut its position in Wells Fargo & Co (NYSE:WFC) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,683,865 shares of the financial services provider’s stock after selling 25,559 shares during the quarter. Eagle Asset Management Inc.’s holdings in Wells Fargo & Co were worth $88,503,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WFC. Jennison Associates LLC lifted its holdings in Wells Fargo & Co by 15.4% during the 3rd quarter. Jennison Associates LLC now owns 1,254,792 shares of the financial services provider’s stock valued at $65,952,000 after purchasing an additional 167,180 shares during the last quarter. Factorial Partners LLC lifted its holdings in Wells Fargo & Co by 22.3% during the 3rd quarter. Factorial Partners LLC now owns 41,100 shares of the financial services provider’s stock valued at $2,160,000 after purchasing an additional 7,500 shares during the last quarter. Cedar Capital LLC lifted its holdings in Wells Fargo & Co by 17.3% during the 3rd quarter. Cedar Capital LLC now owns 8,660 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 1,277 shares during the last quarter. Guyasuta Investment Advisors Inc. lifted its holdings in Wells Fargo & Co by 0.5% during the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 274,066 shares of the financial services provider’s stock valued at $14,405,000 after purchasing an additional 1,385 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in Wells Fargo & Co by 12.1% during the 3rd quarter. Norinchukin Bank The now owns 308,260 shares of the financial services provider’s stock valued at $16,202,000 after purchasing an additional 33,386 shares during the last quarter. 75.50% of the stock is owned by institutional investors and hedge funds.

WFC has been the subject of several research reports. Zacks Investment Research downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Macquarie downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Edward Jones raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Wolfe Research initiated coverage on Wells Fargo & Co in a report on Tuesday, September 25th. They set an “outperform” rating for the company. Finally, UBS Group set a $63.00 price target on Wells Fargo & Co and gave the company a “buy” rating in a report on Friday, September 28th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. Wells Fargo & Co presently has an average rating of “Buy” and a consensus target price of $63.79.

WFC opened at $52.43 on Thursday. Wells Fargo & Co has a fifty-two week low of $50.02 and a fifty-two week high of $66.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $260.08 billion, a PE ratio of 12.76, a PEG ratio of 1.06 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. The firm had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. On average, sell-side analysts predict that Wells Fargo & Co will post 4.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 8th. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.

Wells Fargo & Co declared that its board has approved a share buyback plan on Tuesday, October 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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