Wells Fargo & Company (WFC) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 24.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,106 shares of the financial services provider’s stock after selling 6,059 shares during the period. Wells Fargo & Company comprises 0.6% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 28th biggest holding. Prentiss Smith & Co. Inc.’s holdings in Wells Fargo & Company were worth $1,054,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in WFC. Rockland Trust Co. grew its holdings in shares of Wells Fargo & Company by 0.6% in the second 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. grew its holdings in shares of Wells Fargo & Company 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. Kelman Lazarov Inc. grew its holdings in shares of Wells Fargo & Company by 6.0% in the second 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. grew its holdings in shares of Wells Fargo & Company by 4.7% in the second 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, Eagle Global Advisors LLC grew its holdings in shares of Wells Fargo & Company by 1.8% in the second quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after purchasing an additional 2,172 shares in the last quarter. 75.69% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & Company and gave the company a “buy” rating in a report on Friday, August 25th. Robert W. Baird restated a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, September 5th. Vetr upgraded shares of Wells Fargo & Company to a “strong-buy” rating in a report on Thursday, September 7th. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 price objective (down previously from $52.00) on shares of Wells Fargo & Company in a report on Wednesday, September 13th. Finally, UBS restated a “neutral” rating and issued a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & Company in a report on Friday, September 15th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.75.

Shares of Wells Fargo & Company (NYSE WFC) opened at $61.61 on Friday. The firm has a market cap of $303,610.00, a P/E ratio of 14.58, a PEG ratio of 1.88 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 $62.12.

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 for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. research analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were given a dividend of $0.39 per share. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.53%. Wells Fargo & Company’s dividend payout ratio is presently 40.31%.

In other news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock valued at $10,471,050 in the last 90 days. Insiders own 0.22% of the company’s stock.

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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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