Westover Capital Advisors LLC Sells 537 Shares of Wells Fargo & Company (WFC)

Westover Capital Advisors LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,203 shares of the financial services provider’s stock after selling 537 shares during the period. Westover Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFC. C WorldWide Group Holding A S lifted its stake in Wells Fargo & Company by 11.8% in the first quarter. C WorldWide Group Holding A S now owns 5,314,670 shares of the financial services provider’s stock worth $295,814,000 after purchasing an additional 559,931 shares during the last quarter. Webster Bank N. A. lifted its stake in Wells Fargo & Company by 2.5% in the first quarter. Webster Bank N. A. now owns 49,707 shares of the financial services provider’s stock worth $2,766,000 after purchasing an additional 1,190 shares during the last quarter. Eads & Heald Investment Counsel lifted its stake in Wells Fargo & Company by 7.3% in the first quarter. Eads & Heald Investment Counsel now owns 27,578 shares of the financial services provider’s stock worth $1,535,000 after purchasing an additional 1,870 shares during the last quarter. APG Asset Management N.V. lifted its stake in Wells Fargo & Company by 10.1% in the first quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock worth $384,376,000 after purchasing an additional 635,436 shares during the last quarter. Finally, Grimes & Company Inc. lifted its stake in Wells Fargo & Company by 15.8% in the first quarter. Grimes & Company Inc. now owns 7,428 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 1,012 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

Shares of Wells Fargo & Company (NYSE:WFC) traded down $0.44 during mid-day trading on Tuesday, reaching $58.87. 15,876,500 shares of the company traded hands, compared to its average volume of 18,422,584. The stock has a market capitalization of $292,057.91, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 12 month low of $49.27 and a 12 month high of $60.00.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for 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%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s payout ratio is 40.31%.

In related news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, 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, VP Richard Levy sold 97,000 shares of Wells Fargo & Company stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on WFC shares. Vertical Group raised shares of Wells Fargo & Company from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, November 15th. Vetr raised shares of Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 16th. Finally, UBS set a $55.00 price target on shares of Wells Fargo & Company and gave the company a “hold” rating in a research note on Monday, October 16th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average 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.

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

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