Wells Fargo & Co (NYSE:WFC) Shares Purchased by InterOcean Capital LLC

InterOcean Capital LLC raised its holdings in Wells Fargo & Co (NYSE:WFC) by 5.6% during the first quarter, HoldingsChannel reports. The firm owned 25,135 shares of the financial services provider’s stock after buying an additional 1,330 shares during the period. InterOcean Capital LLC’s holdings in Wells Fargo & Co were worth $721,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tredje AP fonden lifted its position in Wells Fargo & Co by 96.7% during the 1st quarter. Tredje AP fonden now owns 544,704 shares of the financial services provider’s stock worth $14,496,000 after acquiring an additional 267,726 shares during the period. Toroso Investments LLC raised its stake in shares of Wells Fargo & Co by 15.5% during the first quarter. Toroso Investments LLC now owns 10,308 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 1,383 shares during the last quarter. Royal Fund Management LLC acquired a new stake in shares of Wells Fargo & Co during the first quarter worth $246,000. Front Row Advisors LLC grew its position in Wells Fargo & Co by 5.0% in the 1st quarter. Front Row Advisors LLC now owns 17,292 shares of the financial services provider’s stock valued at $502,000 after buying an additional 823 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Wells Fargo & Co by 12.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 202,951 shares of the financial services provider’s stock valued at $5,824,000 after buying an additional 22,629 shares during the last quarter. Institutional investors own 74.93% of the company’s stock.

In other news, Director Charles H. Noski purchased 20,000 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $29.53 per share, for a total transaction of $590,600.00. Following the completion of the acquisition, the director now directly owns 74 shares in the company, valued at approximately $2,185.22. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles W. Scharf acquired 173,000 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $28.69 per share, with a total value of $4,963,370.00. Following the transaction, the chief executive officer now owns 176,916 shares of the company’s stock, valued at $5,075,720.04. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Several analysts have recently commented on WFC shares. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 target price for the company in a research note on Tuesday, March 17th. TheStreet downgraded shares of Wells Fargo & Co from a “b” rating to a “c+” rating in a research report on Wednesday, February 12th. Odeon Capital Group upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Thursday, March 26th. Citigroup cut their target price on Wells Fargo & Co from $43.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Compass Point decreased their price target on Wells Fargo & Co from $33.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Six research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $38.93.

WFC traded down $0.29 during midday trading on Friday, reaching $24.17. 29,967,288 shares of the company’s stock were exchanged, compared to its average volume of 49,031,396. Wells Fargo & Co has a 1-year low of $22.00 and a 1-year high of $54.75. The stock has a market capitalization of $100.29 billion, a PE ratio of 8.54, a P/E/G ratio of 3.05 and a beta of 1.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.85. The business’s 50-day moving average price is $27.22 and its 200 day moving average price is $42.32.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.85). Wells Fargo & Co had a return on equity of 9.28% and a net margin of 14.52%. The business had revenue of $17.72 billion for the quarter, compared to analysts’ expectations of $19.40 billion. During the same period last year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Co will post 0.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 8.44%. The ex-dividend date of this dividend is Thursday, May 7th. Wells Fargo & Co’s payout ratio is 46.58%.

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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