Community Trust & Investment Co. reduced its position in shares of Wells Fargo & Co (NYSE:WFC) by 11.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,340 shares of the financial services provider’s stock after selling 19,119 shares during the quarter. Community Trust & Investment Co.’s holdings in Wells Fargo & Co were worth $9,424,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of WFC. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Wells Fargo & Co in the second quarter worth approximately $1,095,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Wells Fargo & Co by 0.3% in 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 last quarter. Cerebellum GP LLC purchased a new stake in shares of Wells Fargo & Co in the fourth quarter worth approximately $132,000. Westside Investment Management Inc. raised its stake in shares of Wells Fargo & Co by 63.9% in 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 last quarter. Finally, BKS Advisors LLC purchased a new stake in shares of Wells Fargo & Co in the third quarter worth approximately $143,000. 77.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Ronald Sargent acquired 9,000 shares of Wells Fargo & Co stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $55.98 per share, with a total value of $503,820.00. Following the completion of the acquisition, the director now owns 81 shares in the company, valued at $4,534.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by corporate insiders.
Wells Fargo & Co (WFC) opened at $57.56 on Wednesday. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31. The firm has a market capitalization of $283,440.00, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.
Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The firm had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period last year, the company posted $0.96 earnings per share. Wells Fargo & Co’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts predict that Wells Fargo & Co will post 4.72 EPS for the current year.
Wells Fargo & Co declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.71%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio (DPR) is 43.21%.
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Wells Fargo & Co 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.
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