Lakeview Capital Partners LLC Has $473,000 Holdings in Wells Fargo & Co (WFC)

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Lakeview Capital Partners LLC lowered its stake in Wells Fargo & Co (NYSE:WFC) by 25.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,539 shares of the financial services provider’s stock after selling 2,869 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Wells Fargo & Co were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Sanders Capital LLC bought a new position in Wells Fargo & Co in the 2nd quarter worth about $952,809,000. Magellan Asset Management Ltd boosted its position in shares of Wells Fargo & Co by 24.1% during the 1st quarter. Magellan Asset Management Ltd now owns 31,024,898 shares of the financial services provider’s stock valued at $1,626,015,000 after acquiring an additional 6,017,222 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Wells Fargo & Co during the 1st quarter valued at about $154,981,000. Massachusetts Financial Services Co. MA boosted its position in shares of Wells Fargo & Co by 5.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 50,957,630 shares of the financial services provider’s stock valued at $2,670,689,000 after acquiring an additional 2,497,659 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Wells Fargo & Co by 29.9% during the 2nd quarter. American Century Companies Inc. now owns 10,583,847 shares of the financial services provider’s stock valued at $586,768,000 after acquiring an additional 2,436,521 shares during the last quarter. Institutional investors and hedge funds own 75.76% of the company’s stock.

WFC has been the subject of a number of research analyst reports. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $57.00 to $62.00 in a research report on Monday, July 2nd. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Saturday, July 7th. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, July 13th. Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Finally, Macquarie downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a research report on Friday, September 7th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.34.

In related news, EVP Hope A. Hardison sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the sale, the executive vice president now owns 109 shares in the company, valued at approximately $6,323.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

NYSE:WFC opened at $54.73 on Friday. The company has a market capitalization of $272.86 billion, a P/E ratio of 13.32, a PEG ratio of 1.51 and a beta of 1.12. Wells Fargo & Co has a 1-year low of $50.26 and a 1-year high of $66.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.04). The firm had revenue of $21.55 billion during the quarter, compared to the consensus estimate of $21.52 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. equities analysts forecast that Wells Fargo & Co will post 4.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Friday, August 10th were given a $0.43 dividend. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $1.72 dividend on an annualized basis and a yield of 3.14%. Wells Fargo & Co’s payout ratio is presently 41.85%.

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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