Wells Fargo & Co (WFC) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,933 shares of the financial services provider’s stock after selling 3,467 shares during the quarter. Wells Fargo & Co comprises about 1.8% of Kanawha Capital Management LLC’s holdings, making the stock its 19th largest position. Kanawha Capital Management LLC’s holdings in Wells Fargo & Co were worth $11,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rockland Trust Co. increased its stake in shares of Wells Fargo & Co by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after acquiring an additional 1,856 shares during the last quarter. Heartland Advisors Inc. increased its stake in shares of Wells Fargo & Co by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after acquiring an additional 10,318 shares during the last quarter. Kelman Lazarov Inc. increased its stake in shares of Wells Fargo & Co by 6.0% during the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after acquiring an additional 3,612 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Wells Fargo & Co by 4.7% during 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 acquiring an additional 4,647 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its stake in shares of Wells Fargo & Co by 1.8% during the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 2,172 shares during the last quarter. 75.70% of the stock is owned by institutional investors.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Levy sold 97,000 shares of the company’s 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. In the last 90 days, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by company insiders.

A number of research analysts have recently commented on WFC shares. Robert W. Baird reaffirmed a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & Co in a research note on Tuesday, September 5th. Vetr upgraded Wells Fargo & Co to a “strong-buy” rating in a report on Thursday, September 7th. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & Co in a report on Wednesday, September 13th. UBS Group reiterated a “neutral” rating and set a $56.00 target price (down previously from $59.00) on shares of Wells Fargo & Co in a report on Friday, September 15th. Finally, Zacks Investment Research cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus price target of $57.75.

Wells Fargo & Co (NYSE:WFC) opened at $60.67 on Friday. The firm has a market capitalization of $300,133.69, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $62.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 EPS. equities analysts forecast that Wells Fargo & Co will post 3.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Co’s dividend payout ratio is presently 40.31%.

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About Wells Fargo & Co

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 & Co (NYSE:WFC)

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