Rikoon Group LLC Sells 342 Shares of Wells Fargo & Co (NYSE:WFC)

Rikoon Group LLC lessened its holdings in Wells Fargo & Co (NYSE:WFC) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,098 shares of the financial services provider’s stock after selling 342 shares during the quarter. Rikoon Group LLC’s holdings in Wells Fargo & Co were worth $207,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Coastal Capital Group Inc. bought a new stake in Wells Fargo & Co during the second quarter worth about $78,000. Little House Capital LLC raised its stake in Wells Fargo & Co by 372.8% during the second quarter. Little House Capital LLC now owns 149,639 shares of the financial services provider’s stock worth $7,081,000 after acquiring an additional 117,987 shares in the last quarter. Cibc Bank USA raised its stake in Wells Fargo & Co by 15.4% during the second quarter. Cibc Bank USA now owns 28,181 shares of the financial services provider’s stock worth $1,334,000 after acquiring an additional 3,756 shares in the last quarter. Ballentine Partners LLC raised its stake in Wells Fargo & Co by 16.3% during the second quarter. Ballentine Partners LLC now owns 22,787 shares of the financial services provider’s stock worth $1,078,000 after acquiring an additional 3,193 shares in the last quarter. Finally, Calton & Associates Inc. raised its stake in Wells Fargo & Co by 67.8% during the second quarter. Calton & Associates Inc. now owns 10,772 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 4,354 shares in the last quarter. 75.13% of the stock is owned by institutional investors.

Shares of Wells Fargo & Co stock traded up $0.10 on Friday, hitting $54.10. The stock had a trading volume of 14,545,399 shares, compared to its average volume of 20,816,832. The stock has a 50 day moving average of $50.39 and a 200 day moving average of $47.60. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $55.04. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.85 and a current ratio of 0.86. 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 (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.23). Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The firm had revenue of $22.01 billion during the quarter, compared to analyst estimates of $21.32 billion. During the same period in the prior year, the company earned $1.13 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Co will post 4.5 earnings per share for the current year.

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

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 7th. Wells Fargo & Co’s dividend payout ratio is currently 46.58%.

Several research analysts have commented on the company. Bank of America set a $50.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 30th. Credit Suisse Group boosted their target price on Wells Fargo & Co from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. UBS Group downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $51.00 to $49.00 in a research note on Tuesday, September 10th. Buckingham Research set a $47.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Odeon Capital Group downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target 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.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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