American National Bank Has $535,000 Stake in Wells Fargo & Co (WFC)

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American National Bank reduced its position in Wells Fargo & Co (NYSE:WFC) by 33.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,612 shares of the financial services provider’s stock after selling 5,730 shares during the quarter. American National Bank’s holdings in Wells Fargo & Co were worth $535,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sageworth Trust Co lifted its position in Wells Fargo & Co by 257.9% during the third quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 1,550 shares during the last quarter. Lee Financial Co lifted its position in Wells Fargo & Co by 433.4% during the third quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 2,037 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in Wells Fargo & Co during the third quarter valued at approximately $141,000. Parkside Investments LLC bought a new stake in Wells Fargo & Co during the third quarter valued at approximately $174,000. Finally, Cerebellum GP LLC bought a new stake in Wells Fargo & Co during the third quarter valued at approximately $179,000. Institutional investors own 72.97% of the company’s stock.

Shares of NYSE WFC traded up $0.13 during mid-day trading on Friday, hitting $47.88. The stock had a trading volume of 19,754,439 shares, compared to its average volume of 24,522,334. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. Wells Fargo & Co has a 1 year low of $43.02 and a 1 year high of $66.31. The company has a market cap of $233.16 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 0.84 and a beta of 1.10.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a return on equity of 12.69% and a net margin of 23.17%. The firm had revenue of $21.94 billion during the quarter, compared to analysts’ expectations of $21.90 billion. Equities research analysts anticipate that Wells Fargo & Co will post 4.49 earnings per share for the current year.

Wells Fargo & Co declared that its Board of Directors has approved a stock repurchase program on Tuesday, October 23rd that permits the company to repurchase 350,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have issued reports on WFC. UBS Group set a $63.00 target price on shares of Wells Fargo & Co and gave the company a “buy” rating in a research report on Friday, September 28th. ValuEngine lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Thursday. BMO Capital Markets lifted their target price on shares of Wells Fargo & Co to $65.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. Robert W. Baird reiterated a “buy” rating and set a $59.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Finally, Wolfe Research started coverage on shares of Wells Fargo & Co in a research note on Tuesday, September 25th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and a consensus target price of $61.93.

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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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