Montrusco Bolton Investments Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 14.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,304 shares of the financial services provider’s stock after buying an additional 23,277 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Wells Fargo & were worth $10,036,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in WFC. Integre Asset Management LLC purchased a new position in Wells Fargo & during the fourth quarter valued at approximately $5,348,000. InterOcean Capital LLC raised its stake in shares of Wells Fargo & by 0.9% in the fourth quarter. InterOcean Capital LLC now owns 13,413 shares of the financial services provider’s stock valued at $739,000 after buying an additional 126 shares during the period. Bristol Advisors LLC bought a new stake in shares of Wells Fargo & during the fourth quarter valued at about $727,000. Sand Hill Global Advisors LLC raised its stake in shares of Wells Fargo & by 6.1% in the fourth quarter. Sand Hill Global Advisors LLC now owns 21,804 shares of the financial services provider’s stock valued at $1,201,000 after buying an additional 1,244 shares during the period. Finally, Cpcm LLC bought a new stake in shares of Wells Fargo & during the fourth quarter valued at about $3,102,000. 76.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wells Fargo & Company (WFC) traded down 1.69% during mid-day trading on Thursday, reaching $51.80. The company had a trading volume of 16,450,983 shares. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99. The firm has a 50-day moving average price of $54.25 and a 200-day moving average price of $54.92. The stock has a market capitalization of $257.13 billion, a price-to-earnings ratio of 12.76 and a beta of 0.95.
Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. Wells Fargo &’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. Equities analysts expect that Wells Fargo & Company will post $4.17 earnings per share for the current year.
Wells Fargo & announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.01%. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 2nd. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.
ILLEGAL ACTIVITY NOTICE: This article was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://stocknewstimes.com/2017/08/17/wells-fargo-company-nysewfc-stake-increased-by-montrusco-bolton-investments-inc-updated-updated-updated.html.
Several brokerages recently issued reports on WFC. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & in a report on Wednesday. BidaskClub downgraded shares of Wells Fargo & from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. BMO Capital Markets upgraded shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and dropped their target price for the company from $50.00 to $47.00 in a research report on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a “hold” rating on shares of Wells Fargo & in a research report on Sunday, July 30th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of Wells Fargo & in a research note on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.87.
In related news, insider Petros G. Pelos sold 24,708 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.07, for a total transaction of $1,335,961.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hope A. Hardison sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $52.07, for a total value of $1,041,400.00. Following the sale, the insider now directly owns 109 shares in the company, valued at $5,675.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,278 shares of company stock worth $6,940,120. 0.22% of the stock is owned by corporate insiders.
About Wells Fargo &
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.
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 MarketBeat.com's FREE daily email newsletter.
