CAPROCK Group Inc. increased its position in Wells Fargo & Co (NYSE:WFC) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,069 shares of the financial services provider’s stock after purchasing an additional 1,766 shares during the period. CAPROCK Group Inc.’s holdings in Wells Fargo & Co were worth $1,548,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Delphi Private Advisors LLC increased its position in Wells Fargo & Co by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,461 shares in the last quarter. Brick & Kyle Associates increased its position in Wells Fargo & Co by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in Wells Fargo & Co in the second quarter worth about $104,000. Patriot Financial Group Insurance Agency LLC increased its position in Wells Fargo & Co by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares in the last quarter. Finally, Clear Investment Research LLC purchased a new stake in Wells Fargo & Co in the second quarter worth about $121,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Richard Levy sold 97,000 shares of the business’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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is owned by company insiders.
Shares of Wells Fargo & Co (WFC) traded down $0.45 during trading hours on Friday, hitting $62.55. The stock had a trading volume of 25,890,000 shares, compared to its average volume of 20,510,000. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $63.67. The stock has a market cap of $308,240.00, a P/E ratio of 16.16, a PEG ratio of 1.66 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 announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The company had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. During the same quarter in the prior year, the business posted $0.96 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. sell-side analysts forecast that Wells Fargo & Co will post 3.98 EPS for the current fiscal year.
Several analysts recently issued reports on the company. Atlantic Securities upgraded Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price for the company in a research report on Wednesday. Sandler O’Neill upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.04 to $73.00 in a research report on Tuesday. Vetr cut Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 target price for the company. in a research report on Monday, January 8th. Vining Sparks restated a “buy” rating and set a $75.00 price target on shares of Wells Fargo & Co in a report on Monday, January 8th. Finally, BMO Capital Markets restated a “hold” rating and set a $59.00 price target on shares of Wells Fargo & Co in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus target price of $61.02.
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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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