Earnest Partners LLC cut its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 11.8% during the third quarter, Holdings Channel reports. The fund owned 113,084 shares of the financial services provider’s stock after selling 15,169 shares during the period. Earnest Partners LLC’s holdings in Wells Fargo & Co were worth $6,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Stelac Advisory Services LLC purchased a new position in Wells Fargo & Co during the second quarter worth about $104,000. Patriot Financial Group Insurance Agency LLC raised its stake in Wells Fargo & Co by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares during the period. Westside Investment Management Inc. raised its stake in Wells Fargo & Co by 63.9% during the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 891 shares during the period. BKS Advisors LLC purchased a new position in Wells Fargo & Co during the third quarter worth about $143,000. Finally, BDO Wealth Advisors LLC purchased a new position in Wells Fargo & Co during the second quarter worth about $151,000. Hedge funds and other institutional investors own 76.20% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $56.13 on Monday. The stock has a market cap of $276,400.00, a P/E ratio of 13.59, a PEG ratio of 1.47 and a beta of 1.01. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31. 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 quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). The company had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. sell-side analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is 37.77%.

Wells Fargo & Co declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of equities analysts have commented on WFC shares. Vetr downgraded shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 target price on the stock. in a research note on Monday, January 8th. Sanford C. Bernstein raised shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $64.00 to $69.00 in a research note on Wednesday, January 3rd. BMO Capital Markets lifted their target price on shares of Wells Fargo & Co from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research note on Tuesday, January 16th. Finally, Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price on the stock in a research note on Wednesday, January 10th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $76.34.

In other news, VP Richard Levy sold 97,000 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were 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 worth $10,471,050 over the last three months. Insiders own 0.22% of the company’s stock.

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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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