Wells Fargo & Co (NYSE:WFC) is Hotchkis & Wiley Capital Management LLC’s 5th Largest Position

Hotchkis & Wiley Capital Management LLC lifted its position in shares of Wells Fargo & Co (NYSE:WFC) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,651,150 shares of the financial services provider’s stock after acquiring an additional 1,209,640 shares during the quarter. Wells Fargo & Co makes up 3.0% of Hotchkis & Wiley Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Hotchkis & Wiley Capital Management LLC owned approximately 0.28% of Wells Fargo & Co worth $752,861,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WFC. Willis Investment Counsel lifted its holdings in Wells Fargo & Co by 11.9% during the 3rd quarter. Willis Investment Counsel now owns 418,124 shares of the financial services provider’s stock worth $23,060,000 after purchasing an additional 44,600 shares in the last quarter. BB&T Securities LLC lifted its holdings in Wells Fargo & Co by 6.4% during the 3rd quarter. BB&T Securities LLC now owns 1,066,180 shares of the financial services provider’s stock worth $58,800,000 after purchasing an additional 63,939 shares in the last quarter. Woodmont Investment Counsel LLC lifted its holdings in Wells Fargo & Co by 2.7% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 90,125 shares of the financial services provider’s stock worth $4,970,000 after purchasing an additional 2,335 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Wells Fargo & Co by 11.4% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 22,255 shares of the financial services provider’s stock worth $1,227,000 after purchasing an additional 2,275 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Wells Fargo & Co by 2.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 15,259,103 shares of the financial services provider’s stock worth $841,540,000 after purchasing an additional 339,801 shares in the last quarter. Institutional investors own 76.20% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) traded up $0.72 during midday trading on Friday, hitting $56.13. The company had a trading volume of 48,900,000 shares, compared to its average volume of 24,770,000. The stock has a market cap of $276,400.00, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The firm had revenue of $22.05 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. sell-side analysts anticipate that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Co declared that its board has initiated a stock repurchase program on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. Wells Fargo & Co’s dividend payout ratio is 37.77%.

In related news, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by insiders.

A number of brokerages recently issued reports on WFC. Zacks Investment Research raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Saturday. Vetr raised Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.78 price objective on the stock in a report on Monday. Morgan Stanley reissued an “average” rating and set a $400.00 price objective (up previously from $1.95) on shares of Wells Fargo & Co in a report on Tuesday, February 6th. UBS Group set a $63.00 price objective on Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, February 5th. Finally, Vining Sparks reissued a “buy” rating and set a $68.50 price objective on shares of Wells Fargo & Co in a report on Monday, February 5th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.34.

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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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