Sand Hill Global Advisors LLC reduced its stake in Wells Fargo (NYSE:WFC) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 27,456 shares of the financial services provider’s stock after selling 1,667 shares during the period. Sand Hill Global Advisors LLC’s holdings in Wells Fargo were worth $1,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in WFC. Adams Diversified Equity Fund Inc. raised its position in Wells Fargo by 20.2% during the 4th quarter. Adams Diversified Equity Fund Inc. now owns 623,100 shares of the financial services provider’s stock worth $37,803,000 after buying an additional 104,900 shares during the last quarter. Aevitas Wealth Management Inc. purchased a new position in Wells Fargo during the 4th quarter worth approximately $1,675,000. Amalgamated Bank raised its position in Wells Fargo by 8.3% during the 4th quarter. Amalgamated Bank now owns 558,276 shares of the financial services provider’s stock worth $33,871,000 after buying an additional 42,580 shares during the last quarter. Davis Capital Partners LLC raised its position in Wells Fargo by 1.7% during the 4th quarter. Davis Capital Partners LLC now owns 1,500,000 shares of the financial services provider’s stock worth $91,005,000 after buying an additional 25,000 shares during the last quarter. Finally, Assetmark Inc. raised its position in Wells Fargo by 53.5% during the 4th quarter. Assetmark Inc. now owns 9,715 shares of the financial services provider’s stock worth $589,000 after buying an additional 3,385 shares during the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Ronald Sargent purchased 9,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $55.98 per share, with a total value of $503,820.00. Following the purchase, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Wells Fargo stock opened at $52.36 on Friday. Wells Fargo has a 1 year low of $49.27 and a 1 year high of $66.31. The firm has a market capitalization of $259,057.52, a P/E ratio of 12.74, a P/E/G ratio of 1.44 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.88.

Wells Fargo (NYSE:WFC) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Wells Fargo had a net margin of 22.80% and a return on equity of 12.44%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. analysts forecast that Wells Fargo will post 4.54 EPS for the current year.

Wells Fargo announced that its Board of Directors has initiated a stock repurchase program on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.98%. Wells Fargo’s dividend payout ratio is currently 37.96%.

A number of equities analysts have issued reports on WFC shares. Zacks Investment Research lowered shares of Wells Fargo from a “hold” rating to a “sell” rating in a research report on Monday, April 9th. Sandler O’Neill raised shares of Wells Fargo from a “hold” rating to a “buy” rating and raised their price target for the stock from $62.04 to $73.00 in a research report on Tuesday, January 9th. Royal Bank of Canada lowered shares of Wells Fargo from an “outperform” rating to an “underperform” rating in a research report on Monday, February 5th. BMO Capital Markets reissued a “hold” rating and set a $60.00 price target on shares of Wells Fargo in a research report on Monday, February 5th. Finally, Citigroup cut shares of Wells Fargo from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Monday, February 5th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. Wells Fargo presently has an average rating of “Hold” and an average price target of $61.80.

Wells Fargo 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 (NYSE:WFC)

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