Wells Fargo & Company (WFC) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 67.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,740 shares of the financial services provider’s stock after selling 150,106 shares during the period. Hodges Capital Management Inc.’s holdings in Wells Fargo & were worth $4,086,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Alexandria Capital LLC increased its stake in shares of Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 6 shares during the last quarter. Winch Advisory Services LLC increased its stake in shares of Wells Fargo & by 0.7% in the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 18 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in shares of Wells Fargo & by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 24 shares during the last quarter. Keystone Financial Planning Inc. increased its stake in shares of Wells Fargo & by 0.6% in the 1st quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 39 shares during the last quarter. Finally, Country Club Trust Company n.a. increased its stake in shares of Wells Fargo & by 0.3% in the 2nd quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock valued at $927,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.

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Shares of Wells Fargo & Company (WFC) opened at 55.87 on Friday. The firm’s 50-day moving average price is $53.67 and its 200-day moving average price is $53.49. The company has a market capitalization of $275.32 billion, a price-to-earnings ratio of 14.44 and a beta of 0.97. Wells Fargo & Company has a one year low of $44.49 and a one year high of $59.99.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo &’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. Analysts anticipate that Wells Fargo & Company will post $3.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio (DPR) is currently 40.31%.

WFC has been the topic of a number of research reports. UBS AG restated a “neutral” rating and set a $56.00 price objective (down previously from $59.00) on shares of Wells Fargo & in a research report on Friday, September 15th. Zacks Investment Research upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Piper Jaffray Companies restated a “neutral” rating and set a $50.00 price objective (down previously from $52.00) on shares of Wells Fargo & in a research report on Wednesday, September 13th. Berenberg Bank lowered Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price objective for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Finally, Robert W. Baird restated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wells Fargo & has a consensus rating of “Hold” and an average price target of $57.20.

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)

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