Wells Fargo & Company (NYSE:WFC) Stake Decreased by First Midwest Bank Trust Division

First Midwest Bank Trust Division reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,510 shares of the financial services provider’s stock after selling 1,027 shares during the period. First Midwest Bank Trust Division’s holdings in Wells Fargo & were worth $2,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its position in shares of Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after acquiring an additional 3,637,100 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Wells Fargo & by 49.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after acquiring an additional 3,214,592 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Wells Fargo & by 38.8% in the second quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock valued at $531,231,000 after acquiring an additional 2,681,497 shares in the last quarter. Boston Partners lifted its position in shares of Wells Fargo & by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after acquiring an additional 2,648,763 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Wells Fargo & in the first quarter valued at approximately $90,858,000. 75.10% of the stock is currently owned by institutional investors.

Shares of Wells Fargo & Company (NYSE:WFC) opened at 54.25 on Friday. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The firm’s 50-day moving average price is $51.89 and its 200-day moving average price is $53.88. The stock has a market capitalization of $269.29 billion, a P/E ratio of 13.36 and a beta of 0.96.

Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post $4.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were paid a dividend of $0.39 per share. The ex-dividend date was Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 2.88%. Wells Fargo &’s dividend payout ratio (DPR) is currently 38.42%.

Wells Fargo & announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $11.50 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

WARNING: “Wells Fargo & Company (NYSE:WFC) Stake Decreased by First Midwest Bank Trust Division” was originally reported by BBNS and is the sole property of of BBNS. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://baseballnewssource.com/markets/first-midwest-bank-trust-division-sells-1027-shares-of-wells-fargo-company-wfc/1605303.html.

WFC has been the topic of several research reports. UBS AG restated a “neutral” rating and issued a $56.00 target price (down previously from $59.00) on shares of Wells Fargo & in a research report on Friday, September 15th. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & in a research report on Wednesday, September 13th. Berenberg Bank downgraded Wells Fargo & from a “hold” rating to a “sell” rating and raised their target price for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Robert W. Baird restated a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reiterated an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Wells Fargo & presently has an average rating of “Hold” and a consensus target price of $56.25.

Wells Fargo & 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 & (NYSE:WFC)

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

 


Latest News

American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22


Leave a Reply

 
© 2006-2017 BBNS.