28,907 Shares in Wells Fargo & Co (WFC) Acquired by Blue Granite Capital LLC

Blue Granite Capital LLC bought a new stake in Wells Fargo & Co (NYSE:WFC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 28,907 shares of the financial services provider’s stock, valued at approximately $1,594,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Wells Fargo & Co by 1.2% during the second quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock worth $17,440,601,000 after acquiring an additional 3,621,402 shares during the period. Capital World Investors increased its stake in shares of Wells Fargo & Co by 10.8% during the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after acquiring an additional 10,927,679 shares during the period. Capital Research Global Investors increased its stake in shares of Wells Fargo & Co by 19.7% during the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after acquiring an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & Co by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after acquiring an additional 6,291,906 shares during the period. Finally, Davis Selected Advisers increased its stake in shares of Wells Fargo & Co by 1.9% during the second quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock worth $1,438,821,000 after acquiring an additional 472,585 shares during the period. 76.21% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on WFC shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 target price on shares of Wells Fargo & Co in a research report on Monday, October 16th. Citigroup restated a “buy” rating and set a $65.00 target price (up from $60.00) on shares of Wells Fargo & Co in a research report on Monday, October 9th. Robert W. Baird restated a “buy” rating and set a $58.00 target price on shares of Wells Fargo & Co in a research report on Friday, October 6th. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Finally, Royal Bank of Canada restated a “buy” rating and set a $60.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, November 15th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $61.71.

In other news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock worth $10,471,050 in the last three months. Insiders own 0.22% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) traded up $0.12 during midday trading on Thursday, hitting $65.51. 15,717,343 shares of the company’s stock traded hands, compared to its average volume of 16,430,000. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $322,820.00, a P/E ratio of 15.86, a PEG ratio of 1.70 and a beta of 0.96. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month 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 (EPS) for the quarter, missing the 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 previous year, the company posted $0.96 EPS. equities research analysts expect that Wells Fargo & Co will post 4.74 earnings per share for the current fiscal year.

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 paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Co’s payout ratio is 37.77%.

Wells Fargo & Co announced that its board has initiated a stock repurchase program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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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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