Noesis Capital Mangement Corp Reduces Position in Wells Fargo & Company (WFC)

Noesis Capital Mangement Corp lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,665 shares of the financial services provider’s stock after selling 51 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Wells Fargo & Company were worth $258,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WFC. Delphi Private Advisors LLC grew its stake in shares of Wells Fargo & Company by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the last quarter. Brick & Kyle Associates grew its stake in shares of Wells Fargo & Company by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $104,000. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Wells Fargo & Company by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares during the last quarter. Finally, Clear Investment Research LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

In other Wells Fargo & Company news, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s 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. In the last three months, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by company insiders.

Shares of Wells Fargo & Company (WFC) traded up $0.02 during trading hours on Thursday, hitting $58.57. The stock had a trading volume of 26,758,300 shares, compared to its average volume of 18,356,119. The stock has a market capitalization of $288,315.47, a P/E ratio of 14.14, a P/E/G ratio of 1.41 and a beta of 0.96. 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 has a twelve month low of $49.27 and a twelve month high of $59.99.

Wells Fargo & Company (NYSE:WFC) last announced 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 business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo & Company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. research analysts forecast that Wells Fargo & Company will post 3.97 earnings per share for the current year.

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

Several analysts have recently commented on WFC shares. Vertical Group raised Wells Fargo & Company from a “sell” rating to a “buy” rating in a report on Thursday. Vetr cut Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $53.07 price target for the company. in a report on Monday, October 2nd. Instinet reissued a “buy” rating and issued a $65.00 price target (up from $64.00) on shares of Wells Fargo & Company in a report on Saturday, September 30th. Nomura raised their price target on Wells Fargo & Company from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Finally, UBS set a $57.00 price target on Wells Fargo & Company and gave the company a “neutral” rating in a report on Friday, October 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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