Wells Fargo & Company (WFC) Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,777 shares of the financial services provider’s stock after purchasing an additional 881 shares during the period. Jacobi Capital Management LLC’s holdings in Wells Fargo & Company were worth $821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Davis Selected Advisers increased its position in Wells Fargo & Company by 1.9% during the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock worth $1,438,821,000 after buying an additional 472,585 shares in the last quarter. Harris Associates L P increased its position in Wells Fargo & Company by 1.2% during the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock worth $1,324,492,000 after buying an additional 286,710 shares in the last quarter. Boston Partners boosted its holdings in shares of Wells Fargo & Company by 140.1% during the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after purchasing an additional 11,139,780 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Wells Fargo & Company by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock worth $826,679,000 after purchasing an additional 607,497 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Wells Fargo & Company by 1.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,648,271 shares of the financial services provider’s stock worth $756,251,000 after purchasing an additional 232,417 shares during the last quarter. 75.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Company (WFC) traded up $1.16 on Wednesday, hitting $58.55. The company’s stock had a trading volume of 39,754,602 shares, compared to its average volume of 18,320,225. The firm has a market capitalization of $289,120.00, a PE ratio of 13.86, a PEG ratio of 1.38 and a beta of 0.96. Wells Fargo & Company has a 12 month low of $49.27 and a 12 month high of $59.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. analysts predict that Wells Fargo & Company will post 3.97 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio is presently 40.31%.

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

In other news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Company stock in a transaction dated Monday, December 4th. The stock was 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. In the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by insiders.

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

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