Wells Fargo & Co (WFC) Shares Bought by Iberiabank Corp

Iberiabank Corp increased its stake in Wells Fargo & Co (NYSE:WFC) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,391 shares of the financial services provider’s stock after buying an additional 3,979 shares during the period. Wells Fargo & Co accounts for approximately 2.1% of Iberiabank Corp’s holdings, making the stock its 10th largest position. Iberiabank Corp’s holdings in Wells Fargo & Co were worth $5,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Telemark Asset Management LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter valued at approximately $8,267,000. Gyroscope Capital Management Group LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter valued at approximately $4,685,000. Good Life Advisors LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter valued at approximately $666,000. Asset Management One Co. Ltd. increased its position in shares of Wells Fargo & Co by 873.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,502,947 shares of the financial services provider’s stock valued at $468,414,000 after buying an additional 7,629,019 shares in the last quarter. Finally, Greytown Advisors Inc. bought a new position in shares of Wells Fargo & Co during the fourth quarter valued at approximately $285,000. Institutional investors and hedge funds own 73.25% of the company’s stock.

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

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

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

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

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Several brokerages have commented on WFC. Credit Suisse Group AG restated a “hold” rating and issued a $56.00 target price on shares of Wells Fargo & Co in a research note on Friday, March 3rd. Zacks Investment Research downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Monday, February 6th. Argus downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating and raised their target price for the stock from $53.00 to $53.78 in a research note on Wednesday, January 18th. FBR & Co restated a “market perform” rating and issued a $55.00 target price on shares of Wells Fargo & Co in a research note on Tuesday, January 17th. Finally, CLSA restated an “outperform” rating and issued a $64.00 target price on shares of Wells Fargo & Co in a research note on Friday, January 13th. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.01.

In other news, insider David M. Carroll sold 117,704 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $59.02, for a total value of $6,946,890.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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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