Outfitter Advisors LTD. decreased its holdings in Wells Fargo (NYSE:WFC) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,644 shares of the financial services provider’s stock after selling 6,276 shares during the quarter. Outfitter Advisors LTD.’s holdings in Wells Fargo were worth $2,405,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC lifted its stake in Wells Fargo by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. lifted its stake in Wells Fargo by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 26 shares during the period. Financial Advisory Group lifted its stake in Wells Fargo by 0.7% in the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 35 shares during the period. Highland Private Wealth Management raised its holdings in Wells Fargo by 1.0% in the second quarter. Highland Private Wealth Management now owns 4,481 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 43 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its holdings in Wells Fargo by 0.7% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 9,777 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 64 shares in the last quarter. 77.39% of the stock is owned by institutional investors.
In other Wells Fargo news, Director Ronald Sargent acquired 9,000 shares of Wells Fargo stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the acquisition, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by company insiders.
Wells Fargo (NYSE:WFC) opened at $55.90 on Friday. Wells Fargo has a twelve month low of $49.27 and a twelve month high of $66.31. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $281,030.00, a price-to-earnings ratio of 15.48, a PEG ratio of 1.48 and a beta of 1.08.
Wells Fargo (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. Wells Fargo’s revenue was up 2.2% compared to the same quarter last year. sell-side analysts anticipate that Wells Fargo will post 4.72 EPS for the current fiscal year.
Wells Fargo announced that its board has approved a stock repurchase program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Friday, February 2nd were issued a $0.39 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.56 annualized dividend and a yield of 2.79%. Wells Fargo’s payout ratio is 43.21%.
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About Wells Fargo
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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