Bailard Inc. Has $1.45 Million Position in Wells Fargo & Co (WFC)

Share on StockTwits

Bailard Inc. decreased its holdings in Wells Fargo & Co (NYSE:WFC) by 3.8% in the third quarter, Holdings Channel reports. The fund owned 27,545 shares of the financial services provider’s stock after selling 1,092 shares during the quarter. Bailard Inc.’s holdings in Wells Fargo & Co were worth $1,448,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WFC. Primecap Management Co. CA lifted its holdings in shares of Wells Fargo & Co by 47.1% in the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after acquiring an additional 12,337,098 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in shares of Wells Fargo & Co in the 2nd quarter valued at about $321,220,000. OppenheimerFunds Inc. lifted its holdings in shares of Wells Fargo & Co by 1,283.4% in the 3rd quarter. OppenheimerFunds Inc. now owns 3,087,235 shares of the financial services provider’s stock valued at $162,264,000 after acquiring an additional 2,864,065 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Wells Fargo & Co by 29.9% in the 2nd quarter. American Century Companies Inc. now owns 10,583,847 shares of the financial services provider’s stock valued at $586,768,000 after acquiring an additional 2,436,521 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Wells Fargo & Co by 12.6% in the 2nd quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock valued at $1,176,604,000 after acquiring an additional 2,372,583 shares during the last quarter. 73.02% of the stock is owned by hedge funds and other institutional investors.

WFC has been the subject of a number of analyst reports. Macquarie downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Edward Jones raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Tuesday, September 18th. Wolfe Research initiated coverage on shares of Wells Fargo & Co in a research report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Finally, UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “buy” rating in a research report on Friday, September 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. Wells Fargo & Co has a consensus rating of “Hold” and an average price target of $63.61.

Shares of NYSE:WFC opened at $50.26 on Friday. The company has a market cap of $252.57 billion, a PE ratio of 12.23, a P/E/G ratio of 1.03 and a beta of 1.00. Wells Fargo & Co has a one year low of $50.02 and a one year high of $66.31. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). The company had revenue of $21.94 billion for the quarter, compared to analysts’ expectations of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. Sell-side analysts anticipate that Wells Fargo & Co will post 4.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Friday, November 9th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Thursday, November 8th. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

Wells Fargo & Co declared that its Board of Directors has approved a share buyback program on Tuesday, October 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “Bailard Inc. Has $1.45 Million Position in Wells Fargo & Co (WFC)” was originally published by BBNS and is owned by of BBNS. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and international trademark & copyright legislation. The original version of this piece of content can be read at https://baseballnewssource.com/2018/12/08/bailard-inc-has-1-45-million-position-in-wells-fargo-co-wfc/3063879.html.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

Featured Article: Why do company’s buyback their stock?

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.