Wells Fargo (WFC) Shares Sold by Chatham Capital Group Inc.
Chatham Capital Group Inc. reduced its stake in Wells Fargo (NYSE:WFC) by 15.1% in the 4th quarter, HoldingsChannel reports. The firm owned 32,302 shares of the financial services provider’s stock after selling 5,750 shares during the quarter. Chatham Capital Group Inc.’s holdings in Wells Fargo were worth $1,960,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Heartland Advisors Inc. increased its stake in Wells Fargo by 3.9% in the second quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after purchasing an additional 10,318 shares in the last quarter. Carret Asset Management LLC increased its stake in Wells Fargo by 2.8% in the third quarter. Carret Asset Management LLC now owns 53,814 shares of the financial services provider’s stock valued at $2,968,000 after purchasing an additional 1,446 shares in the last quarter. Western Standard LLC increased its stake in Wells Fargo by 96.8% in the third quarter. Western Standard LLC now owns 62,315 shares of the financial services provider’s stock valued at $3,437,000 after purchasing an additional 30,653 shares in the last quarter. Personal Capital Advisors Corp increased its stake in Wells Fargo by 5.0% in the third quarter. Personal Capital Advisors Corp now owns 554,429 shares of the financial services provider’s stock valued at $30,577,000 after purchasing an additional 26,614 shares in the last quarter. Finally, Heritage Way Advisors LLC increased its stake in Wells Fargo by 69.2% in the fourth quarter. Heritage Way Advisors LLC now owns 62,100 shares of the financial services provider’s stock valued at $3,768,000 after purchasing an additional 25,407 shares in the last quarter. 77.32% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo (NYSE WFC) opened at $52.53 on Friday. Wells Fargo has a twelve month low of $49.27 and a twelve month high of $66.31. The firm has a market cap of $267,788.69, a PE ratio of 12.91, a P/E/G ratio of 1.44 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, February 1st. Wells Fargo’s payout ratio is 38.33%.
Wells Fargo declared that its board has authorized a share buyback plan on Tuesday, January 23rd that authorizes the company to repurchase 350,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on WFC. Vertical Group raised shares of Wells Fargo from a “sell” rating to a “buy” rating in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Wells Fargo from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Buckingham Research raised shares of Wells Fargo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $75.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Barclays boosted their target price on shares of Wells Fargo from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Sanford C. Bernstein raised shares of Wells Fargo from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $62.90.
In related news, Director Ronald Sargent bought 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the completion of the purchase, the director now directly owns 81 shares in the company, valued at $4,534.38. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.22% of the stock is owned by insiders.
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Wells Fargo 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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