Hodges Capital Management Inc. Has $2.77 Million Position in Wells Fargo (WFC)

Hodges Capital Management Inc. lessened its stake in shares of Wells Fargo (NYSE:WFC) by 22.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,691 shares of the financial services provider’s stock after selling 13,351 shares during the quarter. Hodges Capital Management Inc.’s holdings in Wells Fargo were worth $2,772,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Westside Investment Management Inc. increased its holdings in Wells Fargo by 63.9% during the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 891 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Wells Fargo during the 4th quarter valued at $132,000. BKS Advisors LLC acquired a new stake in Wells Fargo during the 3rd quarter valued at $143,000. Delphi Private Advisors LLC increased its holdings in Wells Fargo by 439.9% during the 4th quarter. Delphi Private Advisors LLC now owns 2,462 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 2,006 shares in the last quarter. Finally, Saratoga Research & Investment Management acquired a new stake in Wells Fargo during the 3rd quarter valued at $178,000. Institutional investors and hedge funds own 77.33% of the company’s stock.

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NYSE:WFC opened at $52.41 on Monday. Wells Fargo has a 12-month low of $49.27 and a 12-month high of $66.31. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90. The firm has a market capitalization of $255,643.08, a PE ratio of 12.75, a P/E/G ratio of 1.38 and a beta of 1.08.

Wells Fargo (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo had a return on equity of 12.24% and a net margin of 22.57%. The company had revenue of $22.05 billion during the quarter, compared to the consensus estimate of $22.64 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. analysts forecast that Wells Fargo will post 4.7 EPS for the current fiscal year.

Wells Fargo declared that its board has authorized a stock buyback program on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on Wells Fargo from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods cut Wells Fargo from an “outperform” rating to a “market perform” rating and set a $63.00 target price for the company. in a research note on Sunday, February 4th. Nomura lowered their target price on Wells Fargo from $79.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, February 5th. BMO Capital Markets reissued a “hold” rating and issued a $60.00 target price on shares of Wells Fargo in a research note on Monday, February 5th. Finally, Citigroup cut Wells Fargo from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research note on Monday, February 5th. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.90.

In other Wells Fargo news, Director Ronald Sargent bought 9,000 shares of Wells Fargo stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $55.98 per share, for a total transaction of $503,820.00. Following the completion of the acquisition, the director now owns 81 shares in the company, valued at approximately $4,534.38. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

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Wells Fargo Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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