Bremer Trust National Association Trims Stake in Wells Fargo & Co (WFC)

Bremer Trust National Association reduced its position in Wells Fargo & Co (NYSE:WFC) by 14.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 45,356 shares of the financial services provider’s stock after selling 7,851 shares during the period. Bremer Trust National Association’s holdings in Wells Fargo & Co were worth $2,501,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WFC. Vanguard Group Inc. raised its stake in Wells Fargo & Co by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 314,755,460 shares of the financial services provider’s stock valued at $17,440,601,000 after acquiring an additional 3,621,402 shares during the last quarter. Capital World Investors raised its stake in Wells Fargo & Co by 10.8% during the 2nd quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock valued at $6,192,259,000 after acquiring an additional 10,927,679 shares during the last quarter. Capital Research Global Investors raised its stake in Wells Fargo & Co by 19.7% during the 2nd quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock valued at $2,511,614,000 after acquiring an additional 7,445,414 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Wells Fargo & Co by 26.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock valued at $1,653,464,000 after acquiring an additional 6,291,906 shares during the last quarter. Finally, Davis Selected Advisers raised its stake in Wells Fargo & Co by 1.9% during the 2nd quarter. Davis Selected Advisers now owns 25,966,811 shares of the financial services provider’s stock valued at $1,438,821,000 after acquiring an additional 472,585 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on WFC. Zacks Investment Research raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Buckingham Research raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and upped their price objective for the company from $57.00 to $75.00 in a research note on Thursday, December 21st. They noted that the move was a valuation call. Vertical Group raised Wells Fargo & Co from a “sell” rating to a “buy” rating in a research note on Thursday, December 7th. Vetr raised Wells Fargo & Co from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research note on Wednesday, October 11th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $57.75.

Shares of Wells Fargo & Co (NYSE WFC) opened at $60.67 on Monday. The firm has a market capitalization of $302,080.00, a P/E ratio of 15.68, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $62.24.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. analysts expect that Wells Fargo & Co will post 3.99 earnings per share for the current year.

In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale 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 the stock in a transaction 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. In the last 90 days, insiders sold 184,482 shares of company stock worth $10,471,050. Insiders own 0.22% of the company’s stock.

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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.

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

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