Novare Capital Management LLC cut its stake in Wells Fargo & Co (NYSE:WFC) by 88.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,182 shares of the financial services provider’s stock after selling 83,964 shares during the quarter. Novare Capital Management LLC’s holdings in Wells Fargo & Co were worth $617,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WFC. Rockland Trust Co. grew its stake in shares of Wells Fargo & Co by 0.6% during the second quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after acquiring an additional 1,856 shares in the last quarter. Heartland Advisors Inc. grew its stake in shares of Wells Fargo & Co by 3.9% during the second quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock valued at $15,102,000 after acquiring an additional 10,318 shares in the last quarter. Eagle Global Advisors LLC grew its stake in shares of Wells Fargo & Co by 1.8% during the second quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 2,172 shares in the last quarter. New Jersey Better Educational Savings Trust grew its stake in shares of Wells Fargo & Co by 10.0% during the second quarter. New Jersey Better Educational Savings Trust now owns 33,000 shares of the financial services provider’s stock valued at $1,829,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Personal Capital Advisors Corp grew its stake in shares of Wells Fargo & Co by 5.0% during the third quarter. Personal Capital Advisors Corp now owns 554,429 shares of the financial services provider’s stock valued at $30,577,000 after acquiring an additional 26,614 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on WFC shares. Vetr downgraded Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price target for the company. in a research note on Monday, January 8th. UBS Group set a $57.00 price target on Wells Fargo & Co and gave the stock a “neutral” rating in a research note on Friday, October 6th. Sanford C. Bernstein upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $64.00 to $69.00 in a research note on Wednesday, January 3rd. BMO Capital Markets lifted their price target on Wells Fargo & Co from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $61.71.

Wells Fargo & Co (NYSE:WFC) opened at $64.22 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23. Wells Fargo & Co has a 52 week low of $49.27 and a 52 week high of $64.31. The company has a market capitalization of $316,470.00, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. equities research analysts predict that Wells Fargo & Co will post 4.7 EPS for the current year.

In other news, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is currently owned by insiders.

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Wells Fargo & Co Company 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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