Bailard Inc. Sells 5,941 Shares of Wells Fargo & Co (NYSE:WFC)

Bailard Inc. decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 19.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,625 shares of the financial services provider’s stock after selling 5,941 shares during the quarter. Bailard Inc.’s holdings in Wells Fargo & Co were worth $1,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Bath Savings Trust Co lifted its position in Wells Fargo & Co by 7.4% during the second quarter. Bath Savings Trust Co now owns 4,529 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 312 shares during the period. Thomasville National Bank lifted its holdings in shares of Wells Fargo & Co by 1.3% in the second quarter. Thomasville National Bank now owns 53,713 shares of the financial services provider’s stock worth $2,542,000 after acquiring an additional 714 shares during the last quarter. Bright Rock Capital Management LLC lifted its holdings in shares of Wells Fargo & Co by 19.5% in the second quarter. Bright Rock Capital Management LLC now owns 208,215 shares of the financial services provider’s stock worth $9,853,000 after acquiring an additional 34,000 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in shares of Wells Fargo & Co by 1.8% in the second quarter. Beese Fulmer Investment Management Inc. now owns 107,828 shares of the financial services provider’s stock worth $5,102,000 after acquiring an additional 1,925 shares during the last quarter. Finally, Rockland Trust Co. lifted its holdings in shares of Wells Fargo & Co by 8.7% in the second quarter. Rockland Trust Co. now owns 409,345 shares of the financial services provider’s stock worth $19,370,000 after acquiring an additional 32,697 shares during the last quarter. 75.28% of the stock is owned by institutional investors and hedge funds.

WFC has been the subject of a number of research reports. Macquarie lowered shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $54.00 to $47.00 in a report on Wednesday, July 17th. UBS Group lowered shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $51.00 to $49.00 in a report on Tuesday, September 10th. BMO Capital Markets dropped their price objective on shares of Wells Fargo & Co from $59.00 to $57.00 and set a “market perform” rating for the company in a report on Wednesday, October 16th. Credit Suisse Group raised their price objective on shares of Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Finally, Odeon Capital Group raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.75.

NYSE WFC opened at $49.97 on Monday. The company has a fifty day simple moving average of $48.66 and a 200 day simple moving average of $47.19. Wells Fargo & Co has a 12-month low of $43.02 and a 12-month high of $55.04. The company has a current ratio of 0.86, a quick ratio of 0.87 and a debt-to-equity ratio of 1.33. The company has a market cap of $218.59 billion, a P/E ratio of 11.41, a PEG ratio of 1.02 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.23). Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The business had revenue of $22.01 billion during the quarter, compared to analyst estimates of $21.32 billion. During the same period in the previous year, the business posted $1.13 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Co will post 4.52 EPS for the current year.

Wells Fargo & Co declared that its Board of Directors has authorized a stock repurchase plan on Thursday, June 27th that authorizes the company to buyback $23.10 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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