Chatham Capital Group Inc. Has $979,000 Stake in Wells Fargo & Co (WFC)

Chatham Capital Group Inc. lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 7.5% during the third quarter, HoldingsChannel reports. The firm owned 18,627 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Chatham Capital Group Inc.’s holdings in Wells Fargo & Co were worth $979,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in WFC. Capital Investment Advisory Services LLC raised its stake in Wells Fargo & Co by 18.7% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 9,049 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 1,426 shares during the period. Bush Odonnell Investment Advisors Inc. grew its holdings in Wells Fargo & Co by 6.9% in the 3rd quarter. Bush Odonnell Investment Advisors Inc. now owns 53,024 shares of the financial services provider’s stock valued at $2,787,000 after buying an additional 3,439 shares in the last quarter. Parsec Financial Management Inc. grew its holdings in Wells Fargo & Co by 4.4% in the 3rd quarter. Parsec Financial Management Inc. now owns 146,669 shares of the financial services provider’s stock valued at $7,709,000 after buying an additional 6,246 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Wells Fargo & Co by 2.0% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 493,481 shares of the financial services provider’s stock valued at $25,937,000 after buying an additional 9,503 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in Wells Fargo & Co by 5.4% in the 3rd quarter. Ballentine Partners LLC now owns 21,558 shares of the financial services provider’s stock valued at $1,133,000 after buying an additional 1,095 shares in the last quarter. Institutional investors own 77.59% of the company’s stock.

WFC has been the topic of a number of research reports. Edward Jones raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Macquarie raised Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a report on Monday, October 15th. Morgan Stanley decreased their price objective on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, July 16th. Finally, Citigroup raised Wells Fargo & Co from a “neutral” rating to a “buy” rating in a report on Friday. Three analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $63.79.

In other news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the sale, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

WFC opened at $53.61 on Friday. The firm has a market cap of $261.50 billion, a PE ratio of 13.04, a P/E/G ratio of 1.14 and a beta of 1.01. Wells Fargo & Co has a 52-week low of $50.02 and a 52-week high of $66.31. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.04). The company had revenue of $21.94 billion for the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. Equities analysts forecast that Wells Fargo & Co will post 4.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, November 8th. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 41.85%.

Wells Fargo & Co announced that its board has initiated a stock repurchase program on Tuesday, October 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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