Wells Fargo & Company (WFC) is Founders Capital Management’s 8th Largest Position
Founders Capital Management raised its stake in Wells Fargo & Company (NYSE:WFC) by 12.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,930 shares of the financial services provider’s stock after acquiring an additional 5,760 shares during the period. Wells Fargo & Company comprises about 2.5% of Founders Capital Management’s investment portfolio, making the stock its 8th largest position. Founders Capital Management’s holdings in Wells Fargo & Company were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently made changes to their positions in WFC. Delphi Private Advisors LLC grew its position in Wells Fargo & Company by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the period. Brick & Kyle Associates grew its holdings in shares of Wells Fargo & Company by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth $104,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Wells Fargo & Company by 0.3% during the second 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 last quarter. Finally, Clear Investment Research LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth $121,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.
In other Wells Fargo & Company news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock worth $10,471,050 in the last ninety days. 0.22% of the stock is currently owned by insiders.
Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period last year, the company earned $1.03 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 40.31%.
WFC has been the topic of several research analyst reports. Keefe, Bruyette & Woods set a $61.00 target price on Wells Fargo & Company and gave the stock a “buy” rating in a report on Friday, August 25th. UBS set a $57.00 target price on Wells Fargo & Company and gave the stock a “neutral” rating in a report on Friday, October 6th. Vetr upgraded Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a report on Monday, November 6th. BMO Capital Markets increased their target price on Wells Fargo & Company from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Company in a report on Wednesday, October 11th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $57.25.
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Wells Fargo & Company 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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