Sowell Financial Services LLC boosted its holdings in Wells Fargo & Co (NYSE:WFC) by 11.3% in the third quarter, Holdings Channel reports. The institutional investor owned 73,371 shares of the financial services provider’s stock after acquiring an additional 7,465 shares during the period. Wells Fargo & Co makes up 1.1% of Sowell Financial Services LLC’s portfolio, making the stock its 27th largest holding. Sowell Financial Services LLC’s holdings in Wells Fargo & Co were worth $4,124,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WFC. Tompkins Financial Corp raised its position in Wells Fargo & Co by 5.0% in the 2nd quarter. Tompkins Financial Corp now owns 6,120 shares of the financial services provider’s stock worth $339,000 after buying an additional 291 shares during the last quarter. Johanson Financial Advisors Inc. raised its position in Wells Fargo & Co by 9.7% in the 2nd quarter. Johanson Financial Advisors Inc. now owns 18,374 shares of the financial services provider’s stock worth $1,021,000 after buying an additional 1,626 shares during the last quarter. Pure Financial Advisors Inc. increased its position in shares of Wells Fargo & Co by 1.4% during the 2nd quarter. Pure Financial Advisors Inc. now owns 8,360 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 112 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of Wells Fargo & Co by 13.4% during the 2nd quarter. Confluence Investment Management LLC now owns 4,675 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 554 shares during the last quarter. Finally, First Financial Bank Trust Division increased its position in shares of Wells Fargo & Co by 1.7% during the 2nd quarter. First Financial Bank Trust Division now owns 125,220 shares of the financial services provider’s stock valued at $6,938,000 after purchasing an additional 2,036 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on WFC. Royal Bank of Canada upped their price target on shares of Wells Fargo & Co to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Vetr lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $53.07 price target for the company. in a research report on Monday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday, January 16th. Instinet reaffirmed a “buy” rating and set a $65.00 price target (up previously from $64.00) on shares of Wells Fargo & Co in a research report on Saturday, September 30th. Finally, Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and a consensus target price of $61.71.

In related news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Loughlin sold 17,482 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock valued at $10,471,050 over the last three months. 0.22% of the stock is currently owned by insiders.

Shares of Wells Fargo & Co (NYSE:WFC) opened at $64.22 on Friday. The stock has a market cap of $316,470.00, a P/E ratio of 15.55, a P/E/G ratio of 1.68 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 $64.31. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. analysts predict that Wells Fargo & Co will post 4.7 earnings per share for the current fiscal year.

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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.

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

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