Gamble Jones Investment Counsel Sells 1,799 Shares of Wells Fargo & Co (NYSE:WFC)

Share on StockTwits

Gamble Jones Investment Counsel lowered its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 7.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,003 shares of the financial services provider’s stock after selling 1,799 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Wells Fargo & Co were worth $1,110,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Glassman Wealth Services lifted its holdings in shares of Wells Fargo & Co by 1.2% in the 3rd quarter. Glassman Wealth Services now owns 16,922 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 193 shares during the last quarter. Sky Investment Group LLC lifted its holdings in shares of Wells Fargo & Co by 3.2% in the 3rd quarter. Sky Investment Group LLC now owns 6,219 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 195 shares during the last quarter. Cardinal Capital Management lifted its holdings in shares of Wells Fargo & Co by 0.3% in the 3rd quarter. Cardinal Capital Management now owns 79,645 shares of the financial services provider’s stock worth $4,017,000 after acquiring an additional 222 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of Wells Fargo & Co by 0.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 40,447 shares of the financial services provider’s stock worth $1,914,000 after acquiring an additional 225 shares during the last quarter. Finally, Vision Capital Management Inc. lifted its holdings in shares of Wells Fargo & Co by 2.2% in the 3rd quarter. Vision Capital Management Inc. now owns 11,034 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 235 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.

WFC stock traded up $0.10 during trading on Friday, hitting $54.10. The company had a trading volume of 14,545,399 shares, compared to its average volume of 20,816,832. The firm has a market capitalization of $225.42 billion, a P/E ratio of 12.35, a PEG ratio of 1.11 and a beta of 1.11. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $55.04. The company has a 50 day simple moving average of $50.39 and a 200-day simple moving average of $47.60. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.23). The company had revenue of $22.01 billion during the quarter, compared to analysts’ expectations of $21.32 billion. Wells Fargo & Co had a return on equity of 13.01% and a net margin of 21.67%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. Sell-side analysts forecast that Wells Fargo & Co will post 4.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Thursday, November 7th. Wells Fargo & Co’s dividend payout ratio (DPR) is 46.58%.

Wells Fargo & Co declared that its board has approved a share repurchase plan on Tuesday, July 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

WFC has been the subject of several analyst reports. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Buckingham Research set a $47.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, September 30th. Morgan Stanley raised their target price on shares of Wells Fargo & Co from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Odeon Capital Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, UBS Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $51.00 to $49.00 in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. Wells Fargo & Co currently has a consensus rating of “Hold” and an average target price of $49.75.

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. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

See Also: Bull Market

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


 
© 2006-2019 BBNS.