CIBC World Markets Inc. Purchases New Stake in Wells Fargo & Company (WFC)

CIBC World Markets Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 898,942 shares of the financial services provider’s stock, valued at approximately $49,810,000.

Other hedge funds also recently bought and sold shares of the company. Rockland Trust Co. raised its position in Wells Fargo & Company by 0.6% in the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after purchasing an additional 1,856 shares in the last quarter. Heartland Advisors Inc. raised its position in Wells Fargo & Company by 3.9% in the 2nd 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. Kelman Lazarov Inc. raised its position in Wells Fargo & Company by 6.0% in the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Wells Fargo & Company by 4.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after purchasing an additional 4,647 shares in the last quarter. Finally, Viking Fund Management LLC raised its position in Wells Fargo & Company by 3.7% in the 2nd quarter. Viking Fund Management LLC now owns 56,000 shares of the financial services provider’s stock valued at $3,103,000 after purchasing an additional 2,000 shares in the last quarter. 75.77% of the stock is currently owned by institutional investors.

In other Wells Fargo & Company news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Several equities research analysts have recently weighed in on WFC shares. Vetr raised Wells Fargo & Company to a “strong-buy” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, August 16th. Goldman Sachs Group reissued a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Robert W. Baird reissued a “buy” rating and set a $58.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $60.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, November 15th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.25.

Shares of Wells Fargo & Company (NYSE WFC) traded down $0.27 during mid-day trading on Monday, hitting $56.20. The company’s stock had a trading volume of 31,242,400 shares, compared to its average volume of 18,183,006. Wells Fargo & Company has a one year low of $49.27 and a one year high of $59.99. The stock has a market cap of $276,743.47, a P/E ratio of 13.57, a P/E/G ratio of 1.35 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share 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 company had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter last year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. research analysts expect that Wells Fargo & Company will post 3.97 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 40.31%.

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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.

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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