Gamble Jones Investment Counsel Sells 1,799 Shares of Wells Fargo & Co (NYSE:WFC)

Gamble Jones Investment Counsel lowered its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,003 shares of the financial services provider’s stock after selling 1,799 shares during the period. Gamble Jones Investment Counsel’s holdings in Wells Fargo & Co were worth $1,110,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WFC. Daily Journal Corp boosted its stake in Wells Fargo & Co by 9,900.0% during the second quarter. Daily Journal Corp now owns 159,180,000 shares of the financial services provider’s stock worth $75,324,000 after acquiring an additional 157,588,200 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Wells Fargo & Co by 10,041.9% during the second quarter. Nuveen Asset Management LLC now owns 20,960,596 shares of the financial services provider’s stock worth $991,856,000 after acquiring an additional 20,753,922 shares in the last quarter. AQR Capital Management LLC boosted its stake in Wells Fargo & Co by 216.1% during the second quarter. AQR Capital Management LLC now owns 7,564,725 shares of the financial services provider’s stock worth $357,963,000 after acquiring an additional 5,171,498 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in Wells Fargo & Co by 24.2% during the second quarter. Longview Partners Guernsey LTD now owns 26,122,688 shares of the financial services provider’s stock worth $1,236,126,000 after acquiring an additional 5,090,670 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in Wells Fargo & Co by 10.0% during the second quarter. Primecap Management Co. CA now owns 50,564,911 shares of the financial services provider’s stock worth $2,392,732,000 after acquiring an additional 4,600,225 shares in the last quarter. 75.13% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on WFC shares. Deutsche Bank set a $44.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 26th. Odeon Capital Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Argus upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, September 30th. Robert W. Baird downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Monday, September 30th. Finally, Morgan Stanley upped their target price on shares of Wells Fargo & Co from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus price target of $49.75.

Wells Fargo & Co stock traded up $0.10 during midday trading on Friday, reaching $54.10. 14,545,399 shares of the company traded hands, compared to its average volume of 20,816,832. The firm has a market capitalization of $225.42 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The business has a 50 day moving average of $50.39 and a two-hundred day moving average of $47.60. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $55.04. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.23). The company had revenue of $22.01 billion for the quarter, compared to the consensus estimate of $21.32 billion. Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. As a group, equities analysts forecast that Wells Fargo & Co will post 4.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.04 dividend on an annualized basis and a yield of 3.77%. Wells Fargo & Co’s dividend payout ratio (DPR) is 46.58%.

Wells Fargo & Co declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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