Afam Capital Inc. Grows Holdings in Wells Fargo & Company (WFC)

Afam Capital Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 3.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 102,078 shares of the financial services provider’s stock after acquiring an additional 3,591 shares during the period. Afam Capital Inc.’s holdings in Wells Fargo & Company were worth $5,656,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. C WorldWide Group Holding A S increased its position in shares of Wells Fargo & Company by 11.8% during the 1st quarter. C WorldWide Group Holding A S now owns 5,314,670 shares of the financial services provider’s stock worth $295,814,000 after purchasing an additional 559,931 shares during the last quarter. Webster Bank N. A. increased its position in shares of Wells Fargo & Company by 2.5% during the 1st quarter. Webster Bank N. A. now owns 49,707 shares of the financial services provider’s stock worth $2,766,000 after purchasing an additional 1,190 shares during the last quarter. Eads & Heald Investment Counsel increased its position in shares of Wells Fargo & Company by 7.3% during the 1st quarter. Eads & Heald Investment Counsel now owns 27,578 shares of the financial services provider’s stock worth $1,535,000 after purchasing an additional 1,870 shares during the last quarter. APG Asset Management N.V. increased its position in shares of Wells Fargo & Company by 10.1% during the 1st quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock worth $384,376,000 after purchasing an additional 635,436 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in shares of Wells Fargo & Company by 15.8% during the 1st quarter. Grimes & Company Inc. now owns 7,428 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Several research firms have weighed in on WFC. Vetr lowered Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $53.07 price target on the stock. in a research report on Monday, October 2nd. Instinet reissued a “buy” rating and set a $65.00 target price (up from $64.00) on shares of Wells Fargo & Company in a report on Saturday, September 30th. Vertical Group raised Wells Fargo & Company from a “sell” rating to a “buy” rating in a report on Thursday, December 7th. Nomura boosted their target price on Wells Fargo & Company from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Finally, UBS set a $57.00 target price on Wells Fargo & Company and gave the stock a “neutral” rating in a report on Friday, October 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Wells Fargo & Company has an average rating of “Hold” and an average price target of $57.25.

Shares of Wells Fargo & Company (NYSE:WFC) traded down $0.93 during midday trading on Thursday, reaching $59.40. The company’s stock had a trading volume of 18,227,000 shares, compared to its average volume of 18,449,338. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 52-week low of $49.27 and a 52-week high of $60.56. The firm has a market cap of $297,080.66, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.45 and a beta of 0.96.

Wells Fargo & Company (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). Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. research analysts expect that Wells Fargo & Company will post 3.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio is 40.31%.

In other news, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.

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Wells Fargo & Company Company 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.

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

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