Osterweis Capital Management Inc. increased its holdings in Wells Fargo & Co (NYSE:WFC) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,807 shares of the financial services provider’s stock after buying an additional 1,052 shares during the period. Osterweis Capital Management Inc.’s holdings in Wells Fargo & Co were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Sageworth Trust Co grew its stake in shares of Wells Fargo & Co by 257.9% during the 3rd quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 1,550 shares during the period. Landaas & Co. WI ADV purchased a new position in shares of Wells Fargo & Co during the 2nd quarter valued at approximately $117,000. Lee Financial Co lifted its position in shares of Wells Fargo & Co by 433.4% during the 3rd quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock valued at $132,000 after buying an additional 2,037 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in shares of Wells Fargo & Co during the 3rd quarter valued at approximately $141,000. Finally, Parkside Investments LLC purchased a new position in shares of Wells Fargo & Co during the 3rd quarter valued at approximately $174,000. Institutional investors own 73.02% of the company’s stock.

Shares of WFC stock opened at $50.26 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $249.20 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.02 and a beta of 1.00. Wells Fargo & Co has a fifty-two week low of $50.02 and a fifty-two week high of $66.31.

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

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

Wells Fargo & Co declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

A number of research analysts have recently issued reports on the company. Macquarie lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday, September 7th. They noted that the move was a valuation call. Wolfe Research assumed coverage on Wells Fargo & Co in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. Edward Jones upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Finally, Citigroup upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.61.

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Wells Fargo & Co Company 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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