Wells Fargo & Co (WFC) Shares Sold by Meag Munich Ergo Kapitalanlagegesellschaft MBH

Meag Munich Ergo Kapitalanlagegesellschaft MBH reduced its stake in Wells Fargo & Co (NYSE:WFC) by 67.8% during the fourth quarter, HoldingsChannel reports. The firm owned 52,688 shares of the financial services provider’s stock after selling 110,904 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Wells Fargo & Co were worth $2,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of WFC. First Bank & Trust raised its holdings in Wells Fargo & Co by 1.2% in the 4th quarter. First Bank & Trust now owns 23,961 shares of the financial services provider’s stock valued at $1,104,000 after buying an additional 285 shares during the last quarter. Berkshire Asset Management LLC PA raised its holdings in Wells Fargo & Co by 3.3% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 507,054 shares of the financial services provider’s stock valued at $26,651,000 after buying an additional 16,315 shares during the last quarter. Rossmore Private Capital raised its holdings in Wells Fargo & Co by 33.5% in the 3rd quarter. Rossmore Private Capital now owns 28,983 shares of the financial services provider’s stock valued at $1,523,000 after buying an additional 7,280 shares during the last quarter. Salem Capital Management Inc. raised its holdings in Wells Fargo & Co by 21.5% in the 4th quarter. Salem Capital Management Inc. now owns 55,141 shares of the financial services provider’s stock valued at $2,541,000 after buying an additional 9,775 shares during the last quarter. Finally, Barings LLC raised its holdings in Wells Fargo & Co by 10.0% in the 3rd quarter. Barings LLC now owns 64,021 shares of the financial services provider’s stock valued at $3,364,000 after buying an additional 5,800 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

A number of brokerages recently issued reports on WFC. Zacks Investment Research lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, December 17th. Credit Suisse Group dropped their price objective on shares of Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, December 7th. ValuEngine lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Wednesday, December 12th. Nomura dropped their price objective on shares of Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating for the company in a report on Monday, October 15th. Finally, BMO Capital Markets raised their price target on shares of Wells Fargo & Co to $65.00 and gave the stock a “market perform” rating in a report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Wells Fargo & Co has an average rating of “Hold” and a consensus price target of $61.33.

Wells Fargo & Co stock opened at $47.65 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.88 and a quick ratio of 0.87. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $61.26. The company has a market cap of $232.42 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 0.86 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The firm had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.80 billion. During the same quarter last year, the business earned $1.16 EPS. The company’s revenue was down 4.9% compared to the same quarter last year. Analysts forecast that Wells Fargo & Co will post 4.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be issued a dividend of $0.45 per share. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, January 31st. This represents a $1.80 annualized dividend and a yield of 3.78%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.10%.

Wells Fargo & Co announced that its board has authorized a stock repurchase plan on Tuesday, October 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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Wells Fargo & Co 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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