Wells Fargo & Co (WFC) Stake Lessened by Bank of the Ozarks

Bank of the Ozarks trimmed its stake in Wells Fargo & Co (NYSE:WFC) by 12.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 22,673 shares of the financial services provider’s stock after selling 3,119 shares during the quarter. Bank of the Ozarks’ holdings in Wells Fargo & Co were worth $1,251,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rockland Trust Co. raised its position in Wells Fargo & Co by 0.6% in the second quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock worth $17,539,000 after acquiring an additional 1,856 shares in the last quarter. Heartland Advisors Inc. increased its stake in Wells Fargo & Co by 3.9% in the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock worth $15,102,000 after purchasing an additional 10,318 shares in the last quarter. Eagle Global Advisors LLC increased its stake in Wells Fargo & Co by 1.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock worth $6,628,000 after purchasing an additional 2,172 shares in the last quarter. New Jersey Better Educational Savings Trust increased its stake in Wells Fargo & Co by 10.0% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 33,000 shares of the financial services provider’s stock worth $1,829,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Sage Capital Advisors llc purchased a new position in Wells Fargo & Co in the 2nd quarter worth about $2,423,000. Institutional investors own 75.71% of the company’s stock.

In other Wells Fargo & Co news, VP Richard Levy sold 97,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock worth $10,471,050 in the last 90 days. Company insiders own 0.22% of the company’s stock.

WFC has been the topic of a number of analyst reports. Sandler O’Neill raised Wells Fargo & Co from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.04 to $73.00 in a research note on Tuesday, January 9th. Vetr cut Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 target price on the stock. in a research note on Thursday, November 2nd. Zacks Investment Research raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Buckingham Research raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and lifted their target price for the company from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Finally, BMO Capital Markets reiterated a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.10.

Shares of Wells Fargo & Co (NYSE:WFC) opened at $62.86 on Wednesday. Wells Fargo & Co has a 1 year low of $49.27 and a 1 year high of $63.67. The firm has a market capitalization of $309,770.00, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share 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 the consensus estimate of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. equities research analysts anticipate that Wells Fargo & Co will post 4.69 EPS for the current fiscal year.

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Wells Fargo & Co 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 & Co (NYSE:WFC)

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