Telemus Capital LLC Purchases 1,435 Shares of Wells Fargo & Co (NYSE:WFC)

Telemus Capital LLC grew its position in shares of Wells Fargo & Co (NYSE:WFC) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,128 shares of the financial services provider’s stock after purchasing an additional 1,435 shares during the quarter. Telemus Capital LLC’s holdings in Wells Fargo & Co were worth $706,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bath Savings Trust Co boosted its holdings in Wells Fargo & Co by 4.1% during the 4th quarter. Bath Savings Trust Co now owns 4,783 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 190 shares during the period. Glassman Wealth Services boosted its holdings in Wells Fargo & Co by 1.2% during the 3rd quarter. Glassman Wealth Services now owns 16,922 shares of the financial services provider’s stock valued at $854,000 after acquiring an additional 193 shares during the period. Sky Investment Group LLC lifted its holdings in Wells Fargo & Co by 3.2% in the 3rd quarter. Sky Investment Group LLC now owns 6,219 shares of the financial services provider’s stock worth $314,000 after buying an additional 195 shares during the period. Norman Fields Gottscho Capital Management LLC lifted its holdings in Wells Fargo & Co by 2.4% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 8,480 shares of the financial services provider’s stock worth $456,000 after buying an additional 200 shares during the period. Finally, Cardinal Capital Management lifted its holdings in Wells Fargo & Co by 0.3% in the 3rd quarter. Cardinal Capital Management now owns 79,645 shares of the financial services provider’s stock worth $4,017,000 after buying an additional 222 shares during the period. Hedge funds and other institutional investors own 75.67% of the company’s stock.

Several equities research analysts have weighed in on the company. Buckingham Research set a $47.00 price objective on Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, September 30th. Argus upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, September 30th. Odeon Capital Group cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. Morgan Stanley dropped their price objective on Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Finally, Raymond James cut Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a report on Monday, December 2nd. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus target price of $49.88.

WFC opened at $47.57 on Friday. The stock has a market cap of $203.94 billion, a PE ratio of 11.83, a PEG ratio of 1.09 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $52.51 and a 200-day moving average of $50.05. Wells Fargo & Co has a 52 week low of $43.34 and a 52 week high of $54.75.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.17). The firm had revenue of $19.86 billion during the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. Equities analysts anticipate that Wells Fargo & Co will post 4.12 EPS for the current year.

About Wells Fargo & Co

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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