Wealthsource Partners LLC cut its holdings in Wells Fargo & Co (NYSE:WFC) by 69.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,238 shares of the financial services provider’s stock after selling 36,068 shares during the quarter. Wealthsource Partners LLC’s holdings in Wells Fargo & Co were worth $853,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Landaas & Co. WI ADV purchased a new stake in shares of Wells Fargo & Co in the second quarter valued at about $117,000. Sageworth Trust Co boosted its holdings in shares of Wells Fargo & Co by 257.9% in the third quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 1,550 shares in the last quarter. Lee Financial Co boosted its holdings in shares of Wells Fargo & Co by 433.4% in the third quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 2,037 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Wells Fargo & Co in the third quarter valued at about $141,000. Finally, Parkside Investments LLC purchased a new stake in shares of Wells Fargo & Co in the third quarter valued at about $174,000. Institutional investors own 73.02% of the company’s stock.

WFC stock opened at $50.26 on Friday. The stock has a market cap of $249.20 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.02 and a beta of 1.00. Wells Fargo & Co has a 52 week low of $50.02 and a 52 week high of $66.31. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

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

The firm also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Friday, November 9th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, November 8th. Wells Fargo & Co’s payout ratio is currently 41.85%.

Wells Fargo & Co declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Several analysts have recently weighed in on WFC shares. Wolfe Research started coverage on shares of Wells Fargo & Co in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the company a “buy” rating in a report on Friday, September 28th. ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Edward Jones raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $63.61.

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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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