1ST Source Bank cut its stake in shares of Wells Fargo & Co (NYSE:WFC) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,617 shares of the financial services provider’s stock after selling 11,307 shares during the quarter. 1ST Source Bank’s holdings in Wells Fargo & Co were worth $4,832,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Boston Partners lifted its stake in shares of Wells Fargo & Co by 140.1% in the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares during the period. Capital World Investors lifted its stake in shares of Wells Fargo & Co by 10.8% in the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after purchasing an additional 10,927,679 shares during the period. Capital Research Global Investors lifted its stake in shares of Wells Fargo & Co by 19.7% in the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after purchasing an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Wells Fargo & Co by 26.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after purchasing an additional 6,291,906 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Wells Fargo & Co by 396.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock valued at $326,655,000 after purchasing an additional 4,707,207 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on WFC shares. Robert W. Baird reissued a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Co in a research note on Tuesday, September 5th. Vetr raised Wells Fargo & Co to a “strong-buy” rating in a research note on Thursday, September 7th. Piper Jaffray Companies reissued a “neutral” rating and issued a $50.00 price objective (down from $52.00) on shares of Wells Fargo & Co in a research note on Wednesday, September 13th. UBS Group reissued a “neutral” rating and issued a $56.00 price objective (down from $59.00) on shares of Wells Fargo & Co in a research note on Friday, September 15th. Finally, Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus target price of $57.75.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The business’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 posted $1.03 earnings per share. sell-side analysts predict that Wells Fargo & Co will post 3.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were issued a dividend of $0.39 per share. 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 currently 40.31%.
In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the business’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 transaction of $1,010,459.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value 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 over the last three months. Corporate insiders own 0.22% of the company’s stock.
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Wells Fargo & Co 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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