Foyston Gordon & Payne Inc raised its position in shares of Wells Fargo & Co (NYSE:WFC) by 9.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 396,178 shares of the financial services provider’s stock after purchasing an additional 35,453 shares during the quarter. Wells Fargo & Co makes up approximately 3.8% of Foyston Gordon & Payne Inc’s investment portfolio, making the stock its 8th largest holding. Foyston Gordon & Payne Inc’s holdings in Wells Fargo & Co were worth $21,849,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Wells Fargo & Co by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after buying an additional 3,621,402 shares during the period. Capital World Investors grew its position in shares of Wells Fargo & Co by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after buying an additional 10,927,679 shares during the period. Capital Research Global Investors grew its position in shares of Wells Fargo & Co by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after buying an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo & Co by 17.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock worth $1,937,888,000 after buying an additional 5,305,125 shares during the period. Finally, Davis Selected Advisers grew its position in shares of Wells Fargo & Co by 1.9% during the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock worth $1,438,821,000 after buying an additional 472,585 shares during the period. 76.00% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Co (NYSE:WFC) opened at $56.50 on Tuesday. 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 has a 52 week low of $49.27 and a 52 week high of $66.31. The firm has a market capitalization of $278,220.00, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter last year, the business posted $0.96 earnings per share. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. equities research analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current year.

Wells Fargo & Co declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 37.77%.

In related news, Director Ronald Sargent acquired 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the purchase, the director now owns 81 shares in the company, valued at $4,534.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. Company insiders own 0.22% of the company’s stock.

Several analysts have recently commented on the stock. Vetr raised shares of Wells Fargo & Co 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. UBS Group set a $63.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, February 5th. Vertical Group upgraded Wells Fargo & Co from a “sell” rating to a “buy” rating in a report on Thursday, December 7th. Keefe, Bruyette & Woods cut Wells Fargo & Co from an “outperform” rating to a “market perform” rating and set a $63.00 target price on the stock. in a report on Sunday, February 4th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $60.00 target price on shares of Wells Fargo & Co in a report on Monday, February 5th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.34.

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About Wells Fargo & Co

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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