Parsec Financial Management Inc. lifted its stake in Wells Fargo & Co (NYSE:WFC) by 15.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,440 shares of the financial services provider’s stock after purchasing an additional 14,634 shares during the period. Parsec Financial Management Inc.’s holdings in Wells Fargo & Co were worth $5,870,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. HPM Partners LLC boosted its holdings in Wells Fargo & Co by 160.6% in the 1st quarter. HPM Partners LLC now owns 125,880 shares of the financial services provider’s stock worth $7,006,000 after buying an additional 77,572 shares during the period. Insight 2811 Inc. boosted its holdings in Wells Fargo & Co by 8.8% in the 1st quarter. Insight 2811 Inc. now owns 6,777 shares of the financial services provider’s stock worth $377,000 after buying an additional 551 shares during the period. Loudon Investment Management LLC boosted its holdings in Wells Fargo & Co by 8.4% in the 1st quarter. Loudon Investment Management LLC now owns 28,296 shares of the financial services provider’s stock worth $1,575,000 after buying an additional 2,200 shares during the period. Nottingham Advisors Inc. boosted its holdings in Wells Fargo & Co by 2.3% in the 1st quarter. Nottingham Advisors Inc. now owns 8,618 shares of the financial services provider’s stock worth $480,000 after buying an additional 190 shares during the period. Finally, Edmonds Duncan Registered Investment Advisors LLC bought a new position in Wells Fargo & Co in the 1st quarter worth $295,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Wells Fargo & Co (WFC) opened at $61.13 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $62.24. The company has a market cap of $303,088.25, a PE ratio of 15.80, a P/E/G ratio of 1.90 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the previous year, the business posted $1.03 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. research analysts expect that Wells Fargo & Co will post 3.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Co’s payout ratio is 40.31%.

In related news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by insiders.

WFC has been the subject of several recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & Co in a report on Tuesday, September 5th. Vetr raised shares of Wells Fargo & Co to a “strong-buy” rating in a report on Thursday, September 7th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & Co in a report on Wednesday, September 13th. UBS Group reaffirmed a “neutral” rating and issued a $56.00 target price (down previously from $59.00) on shares of Wells Fargo & Co in a report on Friday, September 15th. Finally, Zacks Investment Research downgraded shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus price target of $57.75.

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Wells Fargo & Co Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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