InterOcean Capital LLC increased its position in Wells Fargo & Co (NYSE:WFC) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,264 shares of the financial services provider’s stock after purchasing an additional 2,203 shares during the quarter. InterOcean Capital LLC’s holdings in Wells Fargo & Co were worth $855,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Co by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 43,088,636 shares of the financial services provider’s stock valued at $2,388,296,000 after purchasing an additional 1,874,789 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Wells Fargo & Co by 47.1% during the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after purchasing an additional 12,337,098 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Wells Fargo & Co by 0.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 31,103,695 shares of the financial services provider’s stock valued at $1,724,389,000 after purchasing an additional 78,797 shares during the last quarter. Boston Partners lifted its holdings in shares of Wells Fargo & Co by 12.6% during the 2nd quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock valued at $1,176,604,000 after purchasing an additional 2,372,583 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Wells Fargo & Co by 2.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 16,910,637 shares of the financial services provider’s stock valued at $937,526,000 after purchasing an additional 372,355 shares during the last quarter. 73.02% of the stock is currently owned by institutional investors.

WFC has been the subject of several analyst reports. UBS Group set a $63.00 price objective on Wells Fargo & Co and gave the company a “buy” rating in a report on Friday, September 28th. Edward Jones upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Nomura decreased their price objective on Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating for the company in a report on Monday, October 15th. Citigroup upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating in a report on Friday, November 2nd. Finally, ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Three 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. The stock currently has an average rating of “Buy” and a consensus target price of $63.79.

Shares of WFC stock opened at $51.78 on Thursday. The firm has a market capitalization of $264.76 billion, a P/E ratio of 12.60, a PEG ratio of 1.08 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. 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 issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 12.69% and a net margin of 23.17%. Analysts forecast that Wells Fargo & Co will post 4.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Investors of record on Friday, November 9th were paid 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 3.32%. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.85%.

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

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About Wells Fargo & Co

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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