Sunbelt Securities Inc. Sells 37,334 Shares of Wells Fargo & Co (WFC)

Sunbelt Securities Inc. lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 35.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,857 shares of the financial services provider’s stock after selling 37,334 shares during the period. Wells Fargo & Co accounts for approximately 4.6% of Sunbelt Securities Inc.’s portfolio, making the stock its 4th largest position. Sunbelt Securities Inc.’s holdings in Wells Fargo & Co were worth $3,740,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Trent Capital Management Inc. NC purchased a new position in Wells Fargo & Co during the fourth quarter valued at $102,000. Integrated Wealth Counsel LLC boosted its position in Wells Fargo & Co by 17.8% in the third quarter. Integrated Wealth Counsel LLC now owns 2,408 shares of the financial services provider’s stock valued at $107,000 after buying an additional 363 shares during the last quarter. Coconut Grove Bank boosted its position in Wells Fargo & Co by 54.9% in the third quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider’s stock valued at $112,000 after buying an additional 900 shares during the last quarter. Cable Hill Partners LLC boosted its position in Wells Fargo & Co by 10.5% in the third quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider’s stock valued at $117,000 after buying an additional 247 shares during the last quarter. Finally, Timber Creek Capital Management LLC boosted its position in Wells Fargo & Co by 30.0% in the third quarter. Timber Creek Capital Management LLC now owns 3,033 shares of the financial services provider’s stock valued at $134,000 after buying an additional 700 shares during the last quarter. 73.25% of the stock is owned by institutional investors and hedge funds.

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

Shares of Wells Fargo & Co (NYSE:WFC) opened at 57.63 on Tuesday. Wells Fargo & Co has a 52 week low of $43.55 and a 52 week high of $59.99. The stock’s 50 day moving average price is $57.80 and its 200-day moving average price is $52.28. The firm has a market capitalization of $288.34 billion, a price-to-earnings ratio of 14.44 and a beta of 0.98.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $21.60 billion for the quarter. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Equities analysts predict that Wells Fargo & Co will post $4.20 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 3rd were issued a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.64%. Wells Fargo & Co’s dividend payout ratio (DPR) is 38.10%.

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Several research analysts have weighed in on the company. Zacks Investment Research cut Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, January 16th. Evercore ISI reiterated a “buy” rating and set a $51.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 11th. Argus cut Wells Fargo & Co from a “buy” rating to a “hold” rating and increased their price objective for the stock from $53.00 to $53.78 in a research report on Wednesday, January 18th. Barclays PLC reiterated a “buy” rating and set a $65.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, January 10th. Finally, FBR & Co reiterated a “market perform” rating and set a $55.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, January 17th. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.01.

In related news, insider David M. Carroll sold 117,704 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $59.02, for a total transaction of $6,946,890.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.29% of the company’s stock.

About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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