Bbva Compass Bancshares Inc. Sells 3,828 Shares of Wells Fargo & Co (WFC)

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Bbva Compass Bancshares Inc. trimmed its position in shares of Wells Fargo & Co (NYSE:WFC) by 4.4% during the third quarter, HoldingsChannel reports. The firm owned 83,784 shares of the financial services provider’s stock after selling 3,828 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Wells Fargo & Co were worth $4,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cedar Capital LLC raised its holdings in shares of Wells Fargo & Co by 13.3% during the second quarter. Cedar Capital LLC now owns 7,383 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 867 shares during the period. Kessler Investment Group LLC raised its holdings in shares of 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 period. Proficio Capital Partners LLC raised its holdings in shares of Wells Fargo & Co by 18.4% during the second quarter. Proficio Capital Partners LLC now owns 5,699 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 886 shares during the period. GHP Investment Advisors Inc. raised its holdings in shares of Wells Fargo & Co by 2.9% during the second quarter. GHP Investment Advisors Inc. now owns 31,775 shares of the financial services provider’s stock worth $1,762,000 after acquiring an additional 886 shares during the period. Finally, Community Trust & Investment Co. raised its holdings in shares of 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 period. 77.50% of the stock is currently owned by institutional investors.

Shares of WFC stock opened at $53.04 on Friday. 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 has a 1 year low of $50.02 and a 1 year high of $66.31. The firm has a market capitalization of $261.20 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly 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). Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. The business had revenue of $21.94 billion during the quarter, compared to analyst estimates of $21.90 billion. Research analysts expect that Wells Fargo & Co will post 4.5 EPS for the current year.

Wells Fargo & Co announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 23rd that allows the company to repurchase 350,000,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 9th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.72 annualized dividend and a yield of 3.24%. Wells Fargo & Co’s payout ratio is currently 41.85%.

In other Wells Fargo & Co news, EVP Hope A. Hardison sold 25,000 shares of Wells Fargo & Co stock in a transaction 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 sale, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Avid Modjtabai sold 100,000 shares of Wells Fargo & Co stock in a transaction 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 topic of a number of research analyst reports. Edward Jones upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Macquarie dropped their price objective on shares of Wells Fargo & Co from $63.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, September 17th. UBS Group set a $63.00 price objective on shares of Wells Fargo & Co and gave the stock a “buy” rating in a report on Friday, September 28th. Zacks Investment Research lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Finally, Wolfe Research initiated coverage on shares of Wells Fargo & Co in a report on Tuesday, September 25th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $63.79.

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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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