Nelson Van Denburg & Campbell Wealth Management Group LLC reduced its stake in shares of Wells Fargo & Co (NYSE:WFC) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,358 shares of the financial services provider’s stock after selling 1,004 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Wells Fargo & Co were worth $3,750,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC purchased a new position in Wells Fargo & Co during the second quarter worth about $25,000. Next Capital Management LLC purchased a new position in Wells Fargo & Co during the second quarter worth approximately $32,000. Meridian Wealth Management LLC purchased a new position in Wells Fargo & Co during the first quarter worth approximately $50,000. Transamerica Financial Advisors Inc. purchased a new position in Wells Fargo & Co during the second quarter worth approximately $51,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Wells Fargo & Co during the second quarter worth approximately $63,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Co stock traded up $0.48 on Wednesday, reaching $48.30. The stock had a trading volume of 203,718 shares, compared to its average volume of 20,875,557. The business’s 50-day moving average price is $47.77 and its two-hundred day moving average price is $47.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.87 and a current ratio of 0.89. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $55.04. The stock has a market cap of $216.82 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.14. Wells Fargo & Co had a net margin of 23.26% and a return on equity of 13.74%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $20.95 billion. During the same period in the prior year, the company earned $0.98 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Co will post 4.77 earnings per share for the current fiscal year.

Wells Fargo & Co announced that its board has authorized a stock buyback program on Thursday, June 27th that permits the company to repurchase $23.10 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 11.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

WFC has been the topic of a number of recent analyst reports. Deutsche Bank set a $44.00 price target on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 26th. Piper Jaffray Companies set a $46.00 price target on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 9th. Odeon Capital Group raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Atlantic Securities downgraded shares of Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $42.00 target price on the stock. in a research note on Tuesday, June 11th. Finally, Credit Suisse Group raised their target price on shares of Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $50.48.

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. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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