Wells Fargo & Company (WFC) Shares Sold by Huntington National Bank
Huntington National Bank cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 664,329 shares of the financial services provider’s stock after selling 44,038 shares during the period. Huntington National Bank’s holdings in Wells Fargo & were worth $36,811,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Boston Partners boosted its position in Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock worth $442,432,000 after buying an additional 2,648,763 shares during the period. Canada Pension Plan Investment Board boosted its position in Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock worth $443,728,000 after buying an additional 3,637,100 shares during the period. Gateway Investment Advisers LLC boosted its position in Wells Fargo & by 1.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider’s stock worth $150,186,000 after buying an additional 41,531 shares during the period. Dixon Hubard Feinour & Brown Inc. VA boosted its position in Wells Fargo & by 25.8% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,307 shares of the financial services provider’s stock worth $405,000 after buying an additional 1,500 shares during the period. Finally, Viking Fund Management LLC boosted its position in Wells Fargo & by 3.7% in the second quarter. Viking Fund Management LLC now owns 56,000 shares of the financial services provider’s stock worth $3,103,000 after buying an additional 2,000 shares during the period. Institutional investors own 75.18% of the company’s stock.
Shares of Wells Fargo & Company (NYSE:WFC) traded down 0.4454% during trading on Monday, reaching $51.5394. 4,006,860 shares of the company were exchanged. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The firm has a market cap of $255.84 billion, a price-to-earnings ratio of 12.6944 and a beta of 0.95. The stock’s 50-day moving average is $53.60 and its 200-day moving average is $54.71.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. Wells Fargo &’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Equities research analysts predict that Wells Fargo & Company will post $4.17 earnings per share for the current fiscal year.
Wells Fargo & announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $11.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.01%. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 2nd. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.
A number of research analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods set a $61.00 target price on shares of Wells Fargo & and gave the company a “buy” rating in a research note on Friday. Evercore ISI cut their target price on shares of Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 12th. Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.83.
In related news, insider David M. Carroll sold 27,582 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $53.28, for a total value of $1,469,568.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Loughlin sold 20,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.16, for a total transaction of $1,043,200.00. Following the completion of the transaction, the insider now owns 7 shares of the company’s stock, valued at $365.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,278 shares of company stock valued at $6,940,120. 0.22% of the stock is owned by company insiders.
Wells Fargo & 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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