Signature Financial Management Inc. grew its stake in shares of Wells Fargo & Co (NYSE:WFC) by 2.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 48,805 shares of the financial services provider’s stock after buying an additional 1,023 shares during the period. Wells Fargo & Co accounts for 0.8% of Signature Financial Management Inc.’s portfolio, making the stock its 25th largest position. Signature Financial Management Inc.’s holdings in Wells Fargo & Co were worth $2,567,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WFC. Stelac Advisory Services LLC purchased a new position in Wells Fargo & Co in the 2nd quarter worth $104,000. Patriot Financial Group Insurance Agency LLC raised its position in Wells Fargo & Co by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Westside Investment Management Inc. raised its position in Wells Fargo & Co by 63.9% in the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 891 shares during the period. BKS Advisors LLC purchased a new position in Wells Fargo & Co in the 3rd quarter worth $143,000. Finally, BDO Wealth Advisors LLC purchased a new position in Wells Fargo & Co in the 2nd quarter worth $151,000. Hedge funds and other institutional investors own 76.20% of the company’s stock.

In related news, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 in the last ninety days. Insiders own 0.22% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $57.54 on Thursday. The firm has a market cap of $283,340.00, a PE ratio of 13.93, a PEG ratio of 1.53 and a beta of 1.01. 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.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. sell-side analysts forecast that Wells Fargo & Co will post 4.7 earnings per share for the current fiscal year.

Wells Fargo & Co announced that its board has approved a stock repurchase program on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s payout ratio is 37.77%.

WFC has been the topic of a number of analyst reports. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $52.91 target price on the stock in a research report on Monday, October 16th. Piper Jaffray Companies set a $50.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research report on Sunday, October 15th. Finally, BMO Capital Markets lifted their target price on shares of Wells Fargo & Co from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average 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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