PointState Capital LP Lowers Holdings in Wells Fargo & Company (WFC)

PointState Capital LP reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,915,172 shares of the financial services provider’s stock after selling 1,390,328 shares during the period. Wells Fargo & Company makes up 2.4% of PointState Capital LP’s investment portfolio, making the stock its 12th largest holding. PointState Capital LP owned about 0.08% of Wells Fargo & Company worth $216,940,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rockland Trust Co. grew its position in Wells Fargo & Company by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock worth $17,539,000 after purchasing an additional 1,856 shares during the last quarter. Heartland Advisors Inc. grew its position in Wells Fargo & Company by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock worth $15,102,000 after purchasing an additional 10,318 shares during the last quarter. Kelman Lazarov Inc. grew its position in Wells Fargo & Company by 6.0% during the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock worth $3,556,000 after purchasing an additional 3,612 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in Wells Fargo & Company by 4.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock worth $5,722,000 after purchasing an additional 4,647 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its position in Wells Fargo & Company by 1.8% during the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock worth $6,628,000 after purchasing an additional 2,172 shares during the last quarter. 75.77% of the stock is currently owned by institutional investors.

Shares of Wells Fargo & Company (NYSE WFC) traded down $0.44 during midday trading on Tuesday, hitting $58.87. 15,876,500 shares of the company traded hands, compared to its average volume of 18,422,584. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $60.00. The firm has a market capitalization of $292,057.91, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter last year, the business earned $1.03 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. research analysts forecast that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company’s dividend payout ratio (DPR) is 40.31%.

WFC has been the topic of several analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & Company in a report on Tuesday, September 5th. Keefe, Bruyette & Woods set a $61.00 target price on shares of Wells Fargo & Company and gave the company a “buy” rating in a report on Friday, August 25th. Instinet reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $64.00) on shares of Wells Fargo & Company in a report on Saturday, September 30th. Nomura lifted their target price on shares of Wells Fargo & Company from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Finally, Citigroup reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $60.00) on shares of Wells Fargo & Company in a report on Monday, October 9th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $57.25.

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 in the last quarter. Company insiders own 0.22% of the company’s stock.

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Wells Fargo & 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.

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

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