Wealthsource Partners LLC Buys 34,444 Shares of Wells Fargo & Company (WFC)

Wealthsource Partners LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 197.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,851 shares of the financial services provider’s stock after purchasing an additional 34,444 shares during the period. Wells Fargo & Company comprises approximately 1.0% of Wealthsource Partners LLC’s investment portfolio, making the stock its 29th biggest position. Wealthsource Partners LLC’s holdings in Wells Fargo & Company were worth $2,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. bought a new stake in Wells Fargo & Company during the second quarter valued at $1,095,000. Brick & Kyle Associates boosted its position in Wells Fargo & Company by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in Wells Fargo & Company during the second quarter valued at $104,000. Patriot Financial Group Insurance Agency LLC boosted its position in Wells Fargo & Company by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares during the last quarter. Finally, Delphi Private Advisors LLC boosted its position in Wells Fargo & Company by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the last quarter. Institutional investors and hedge funds own 75.77% of the company’s stock.

Shares of Wells Fargo & Company (NYSE:WFC) traded up $1.46 during midday trading on Wednesday, reaching $60.33. 25,040,400 shares of the company traded hands, compared to its average volume of 18,450,271. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $60.56. The company has a market cap of $289,891.22, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.42 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Company (NYSE:WFC) last posted 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). The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. equities analysts predict that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.59%. Wells Fargo & Company’s dividend payout ratio (DPR) is 40.31%.

WFC has been the topic of a number of research analyst reports. Vetr raised shares of Wells Fargo & Company to a “strong-buy” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, August 16th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, November 15th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $58.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $57.25.

In other Wells Fargo & Company news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. 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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