Channing Capital Management LLC raised its holdings in Wells Fargo & Co (NYSE:WFC) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,873 shares of the financial services provider’s stock after purchasing an additional 2,963 shares during the quarter. Channing Capital Management LLC’s holdings in Wells Fargo & Co were worth $8,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sageworth Trust Co increased its stake in shares of Wells Fargo & Co by 257.9% in the 3rd quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock valued at $113,000 after buying an additional 1,550 shares during the period. Landaas & Co. WI ADV acquired a new stake in shares of Wells Fargo & Co in the 2nd quarter valued at $117,000. Lee Financial Co increased its stake in shares of Wells Fargo & Co by 433.4% in 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 during the period. Almanack Investment Partners LLC. acquired a new stake in shares of Wells Fargo & Co during the third quarter worth $141,000. Finally, Parkside Investments LLC acquired a new stake in shares of Wells Fargo & Co during the third quarter worth $174,000. Hedge funds and other institutional investors own 73.02% of the company’s stock.

WFC stock opened at $51.78 on Thursday. 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 stock has a market cap of $264.76 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. Wells Fargo & Co has a 1-year low of $50.02 and a 1-year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.04). The business had revenue of $21.94 billion for the quarter, compared to the consensus estimate of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. 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 issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.72 annualized dividend and a yield of 3.32%. Wells Fargo & Co’s dividend payout ratio is presently 41.85%.

Wells Fargo & Co declared that its board has authorized a stock buyback program on Tuesday, October 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts recently commented on WFC shares. Wolfe Research started coverage on Wells Fargo & Co in a research note on Tuesday, September 25th. They set an “outperform” rating for the company. Zacks Investment Research cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. UBS Group set a $63.00 price objective on Wells Fargo & Co and gave the stock a “buy” rating in a research note on Friday, September 28th. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Finally, Edward Jones raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. Wells Fargo & Co currently has a consensus rating of “Buy” and a consensus target price of $63.79.

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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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