Wells Fargo & Co (NYSE:WFC) Shares Acquired by Northside Capital Management LLC

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Northside Capital Management LLC raised its stake in shares of Wells Fargo & Co (NYSE:WFC) by 18.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,065 shares of the financial services provider’s stock after acquiring an additional 4,679 shares during the period. Wells Fargo & Co makes up 0.5% of Northside Capital Management LLC’s holdings, making the stock its 24th biggest holding. Northside Capital Management LLC’s holdings in Wells Fargo & Co were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rockland Trust Co. grew its holdings in shares of Wells Fargo & Co by 3.3% in the third quarter. Rockland Trust Co. now owns 422,760 shares of the financial services provider’s stock valued at $20,496,000 after purchasing an additional 13,415 shares in the last quarter. Cypress Capital Group grew its holdings in shares of Wells Fargo & Co by 12.7% in the third quarter. Cypress Capital Group now owns 31,774 shares of the financial services provider’s stock valued at $1,602,000 after purchasing an additional 3,575 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Wells Fargo & Co by 10.9% in the third quarter. Pacer Advisors Inc. now owns 431,607 shares of the financial services provider’s stock valued at $21,770,000 after purchasing an additional 42,249 shares in the last quarter. Brio Consultants LLC grew its holdings in shares of Wells Fargo & Co by 11.8% in the third quarter. Brio Consultants LLC now owns 53,876 shares of the financial services provider’s stock valued at $2,718,000 after purchasing an additional 5,680 shares in the last quarter. Finally, Viking Fund Management LLC grew its holdings in shares of Wells Fargo & Co by 38.8% in the third quarter. Viking Fund Management LLC now owns 68,000 shares of the financial services provider’s stock valued at $3,430,000 after purchasing an additional 19,000 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

Wells Fargo & Co stock traded up $1.02 during trading on Friday, reaching $49.68. The stock had a trading volume of 13,332,010 shares, compared to its average volume of 23,514,482. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $55.04. The business has a 50 day moving average price of $47.90 and a 200 day moving average price of $47.14. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.36. The stock has a market cap of $210.70 billion, a PE ratio of 11.34, a P/E/G ratio of 0.94 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. Wells Fargo & Co had a net margin of 23.26% and a return on equity of 13.74%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.95 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Co will post 4.77 EPS for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has initiated a share repurchase program on Thursday, June 27th that permits the company to repurchase $23.10 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 11.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

A number of research analysts recently weighed in on WFC shares. Morgan Stanley lifted their price objective on shares of Wells Fargo & Co from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Citigroup cut shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $51.00 in a report on Friday, July 12th. Odeon Capital Group upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Argus upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, September 30th. Finally, Piper Jaffray Companies set a $46.00 price objective on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, September 9th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $50.48.

About Wells Fargo & Co

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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