Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Position in Wells Fargo & Co (WFC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in Wells Fargo & Co (NYSE:WFC) by 15.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,386 shares of the financial services provider’s stock after selling 10,581 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Wells Fargo & Co were worth $3,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockland Trust Co. grew its holdings in Wells Fargo & Co by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock worth $17,539,000 after acquiring an additional 1,856 shares in the last quarter. Heartland Advisors Inc. grew its holdings in Wells Fargo & Co by 3.9% during the 2nd quarter. Heartland Advisors Inc. now owns 272,548 shares of the financial services provider’s stock worth $15,102,000 after acquiring an additional 10,318 shares in the last quarter. Eagle Global Advisors LLC grew its holdings in Wells Fargo & Co by 1.8% during the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock worth $6,628,000 after acquiring an additional 2,172 shares in the last quarter. New Jersey Better Educational Savings Trust grew its holdings in Wells Fargo & Co by 10.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 33,000 shares of the financial services provider’s stock worth $1,829,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Sage Capital Advisors llc purchased a new stake in shares of Wells Fargo & Co during the 2nd quarter worth approximately $2,423,000. Institutional investors own 75.70% of the company’s stock.

Several analysts have recently weighed in on WFC shares. Robert W. Baird restated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & Co in a research report on Tuesday, September 5th. Instinet restated a “buy” rating and set a $65.00 price objective (up previously from $64.00) on shares of Wells Fargo & Co in a research report on Saturday, September 30th. Nomura boosted their price objective on shares of Wells Fargo & Co from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, September 28th. Citigroup restated a “buy” rating and set a $65.00 price objective (up previously from $60.00) on shares of Wells Fargo & Co in a research report on Monday, October 9th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $57.75.

Shares of Wells Fargo & Co (NYSE WFC) opened at $60.67 on Tuesday. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $62.24. The company has a market cap of $298,754.88, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts forecast 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 company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Levy sold 97,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is owned by insiders.

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Wells Fargo & Co Company Profile

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.

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

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