Linscomb & Williams Inc. Has $4.92 Million Stake in Wells Fargo & Co (WFC)

Share on StockTwits

Linscomb & Williams Inc. grew its stake in Wells Fargo & Co (NYSE:WFC) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,818 shares of the financial services provider’s stock after acquiring an additional 2,908 shares during the period. Linscomb & Williams Inc.’s holdings in Wells Fargo & Co were worth $4,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kessler Investment Group LLC lifted its position in Wells Fargo & Co by 2.3% during the second quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock worth $2,144,000 after acquiring an additional 875 shares during the last quarter. Community Trust & Investment Co. lifted its position in Wells Fargo & Co by 13.1% during the second quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 894 shares during the last quarter. Copperwynd Financial LLC lifted its position in Wells Fargo & Co by 15.7% during the second quarter. Copperwynd Financial LLC now owns 6,648 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 900 shares during the last quarter. Boyd Watterson Asset Management LLC OH lifted its position in Wells Fargo & Co by 2.8% during the second quarter. Boyd Watterson Asset Management LLC OH now owns 33,937 shares of the financial services provider’s stock worth $1,881,000 after acquiring an additional 909 shares during the last quarter. Finally, Cypress Wealth Advisors LLC lifted its position in Wells Fargo & Co by 9.8% during the first quarter. Cypress Wealth Advisors LLC now owns 10,221 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 916 shares during the last quarter. Institutional investors own 75.77% of the company’s stock.

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

WFC has been the subject of several research reports. Morgan Stanley upgraded shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $57.00 to $62.00 in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Saturday, July 7th. Susquehanna Bancshares set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research report on Friday, July 13th. Finally, Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $63.34.

NYSE WFC opened at $57.93 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $66.31. The company has a market capitalization of $285.25 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. The business had revenue of $21.55 billion during the quarter, compared to analyst estimates of $21.52 billion. sell-side analysts anticipate that Wells Fargo & Co will post 4.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Friday, August 10th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, August 9th. Wells Fargo & Co’s payout ratio is presently 41.85%.

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.

See Also: What do investors mean by earnings per share?

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply