Culbertson A N & Co. Inc. Reduces Stake in Wells Fargo & Co (WFC)

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Culbertson A N & Co. Inc. cut its stake in Wells Fargo & Co (NYSE:WFC) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,046 shares of the financial services provider’s stock after selling 5,398 shares during the quarter. Wells Fargo & Co makes up 1.6% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 22nd biggest holding. Culbertson A N & Co. Inc.’s holdings in Wells Fargo & Co were worth $4,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Royal London Asset Management Ltd. acquired a new position in Wells Fargo & Co during the second quarter worth $118,780,000. Rehmann Capital Advisory Group increased its position in Wells Fargo & Co by 10.8% during the second quarter. Rehmann Capital Advisory Group now owns 35,104 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 3,425 shares during the last quarter. United Services Automobile Association increased its position in Wells Fargo & Co by 3.3% during the second quarter. United Services Automobile Association now owns 2,444,646 shares of the financial services provider’s stock worth $135,531,000 after buying an additional 78,569 shares during the last quarter. Northwest Bancshares Inc. increased its position in Wells Fargo & Co by 18.0% during the third quarter. Northwest Bancshares Inc. now owns 6,565 shares of the financial services provider’s stock worth $345,000 after buying an additional 1,000 shares during the last quarter. Finally, Radnor Capital Management LLC increased its position in Wells Fargo & Co by 4.5% during the third quarter. Radnor Capital Management LLC now owns 27,852 shares of the financial services provider’s stock worth $1,464,000 after buying an additional 1,200 shares during the last quarter. 72.89% of the stock is currently owned by institutional investors and hedge funds.

NYSE WFC opened at $48.91 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 twelve month low of $43.02 and a twelve month high of $65.53. The stock has a market capitalization of $238.57 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.88 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.80 billion. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Co will post 4.97 earnings per share for the current year.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, January 31st. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.43. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.10%.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Monday, December 17th. Credit Suisse Group lowered their price target on Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, December 7th. ValuEngine downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Nomura lowered their price target on Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, October 15th. Finally, BMO Capital Markets raised their price target on Wells Fargo & Co to $65.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average 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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