Wells Fargo & Co (WFC) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its position in shares of Wells Fargo & Co (NYSE:WFC) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,832 shares of the financial services provider’s stock after selling 9,621 shares during the period. First Citizens Bank & Trust Co.’s holdings in Wells Fargo & Co were worth $5,693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Wells Fargo & Co by 1.2% in the 2nd 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 in the last quarter. Capital World Investors raised its position in shares of Wells Fargo & Co by 10.8% in the 2nd 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 in the last quarter. Capital Research Global Investors raised its position in shares of Wells Fargo & Co by 19.7% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Wells Fargo & Co by 17.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock worth $1,937,888,000 after acquiring an additional 5,305,125 shares in the last quarter. Finally, Davis Selected Advisers raised its position in shares of Wells Fargo & Co by 1.4% in the 3rd quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock worth $1,451,064,000 after acquiring an additional 368,667 shares in the last quarter. 75.69% of the stock is owned by institutional investors and hedge funds.

Shares of Wells Fargo & Co (WFC) opened at $59.95 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90. The firm has a market capitalization of $295,210.00, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Wells Fargo & Co has a one year low of $49.27 and a one year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. equities research analysts forecast that Wells Fargo & Co will post 4.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.60%. Wells Fargo & Co’s payout ratio is presently 45.22%.

Wells Fargo & Co announced that its board has authorized a stock buyback plan on Tuesday, January 23rd that permits the company to buyback 350,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Several research analysts have recently commented on WFC shares. Vetr lowered Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research report on Monday, January 8th. Sanford C. Bernstein raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday, January 16th. Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Wednesday, January 10th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $59.00 price target on shares of Wells Fargo & Co in a research report on Thursday, January 4th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Wells Fargo & Co presently has an average rating of “Hold” and a consensus price target of $62.90.

In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald Sargent purchased 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $55.98 per share, for a total transaction of $503,820.00. Following the purchase, the director now owns 81 shares in the company, valued at approximately $4,534.38. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 184,482 shares of company stock worth $10,471,050. Company insiders own 0.22% of the company’s stock.

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Wells Fargo & Co 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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