Newman Dignan & Sheerar Inc. Has $1.428 Million Stake in Wells Fargo & Co (WFC)

Newman Dignan & Sheerar Inc. decreased its stake in shares of Wells Fargo & Co (NYSE:WFC) by 5.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,651 shares of the financial services provider’s stock after selling 1,600 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in Wells Fargo & Co were worth $1,428,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Benin Management CORP raised its stake in Wells Fargo & Co by 33.5% in the third quarter. Benin Management CORP now owns 6,371 shares of the financial services provider’s stock valued at $282,000 after buying an additional 1,600 shares during the last quarter. SPC Financial Inc. increased its position in Wells Fargo & Co by 79.6% in the third quarter. SPC Financial Inc. now owns 41,274 shares of the financial services provider’s stock valued at $1,828,000 after buying an additional 18,292 shares during the last quarter. Bridge Creek Capital Management LLC increased its position in Wells Fargo & Co by 10.6% in the third quarter. Bridge Creek Capital Management LLC now owns 77,322 shares of the financial services provider’s stock valued at $3,424,000 after buying an additional 7,421 shares during the last quarter. Hutchens Investment Management Inc increased its position in Wells Fargo & Co by 18.1% in the third quarter. Hutchens Investment Management Inc now owns 64,884 shares of the financial services provider’s stock valued at $2,873,000 after buying an additional 9,950 shares during the last quarter. Finally, Cambridge Advisors Inc. increased its position in Wells Fargo & Co by 22.8% in the third quarter. Cambridge Advisors Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,550,000 after buying an additional 6,512 shares during the last quarter. 73.25% of the stock is owned by hedge funds and other institutional investors.

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

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Thursday, April 13th. The financial services provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. Wells Fargo & Co had a return on equity of 12.60% and a net margin of 23.30%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.25 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, May 3rd. Wells Fargo & Co’s dividend payout ratio is presently 38.10%.

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A number of research analysts have recently commented on WFC shares. Vetr upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $58.06 target price for the company in a research report on Monday, March 27th. Instinet lowered their target price on Wells Fargo & Co from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Wells Fargo & Co in a research report on Friday. Zacks Investment Research downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Finally, Sandler O’Neill restated a “hold” rating and issued a $59.00 price target on shares of Wells Fargo & Co in a research report on Tuesday, April 11th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Wells Fargo & Co has an average rating of “Hold” and a consensus price target of $55.45.

In related news, CEO Timothy J. Sloan acquired 39,000 shares of Wells Fargo & Co stock in a transaction on Monday, April 17th. The shares were bought at an average price of $51.65 per share, for a total transaction of $2,014,350.00. Following the completion of the purchase, the chief executive officer now directly owns 754,581 shares in the company, valued at approximately $38,974,108.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald Sargent bought 9,050 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were acquired at an average cost of $55.15 per share, for a total transaction of $499,107.50. Following the completion of the transaction, the director now owns 81 shares of the company’s stock, valued at approximately $4,467.15. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 106,392 shares of company stock worth $5,526,822. 0.29% of the stock is currently owned by insiders.

About Wells Fargo & Co

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.

12 Month Chart for NYSE:WFC

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