Robinson Value Management Ltd. Sells 2,839 Shares of Wells Fargo & Co (WFC)

Robinson Value Management Ltd. lowered its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 4.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 66,253 shares of the financial services provider’s stock after selling 2,839 shares during the period. Wells Fargo & Co accounts for approximately 3.2% of Robinson Value Management Ltd.’s portfolio, making the stock its 6th biggest holding. Robinson Value Management Ltd.’s holdings in Wells Fargo & Co were worth $3,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WFC. Sageworth Trust Co lifted its stake in shares of Wells Fargo & Co by 257.9% in the third quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock worth $113,000 after buying an additional 1,550 shares in the last quarter. Landaas & Co. WI ADV bought a new position in shares of Wells Fargo & Co in the second quarter worth approximately $117,000. Parkside Investments LLC bought a new position in shares of Wells Fargo & Co in the third quarter worth approximately $174,000. Cerebellum GP LLC purchased a new position in shares of Wells Fargo & Co during the third quarter valued at approximately $179,000. Finally, Diligent Investors LLC purchased a new position in shares of Wells Fargo & Co during the second quarter valued at approximately $200,000. 77.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of WFC stock opened at $53.04 on Friday. Wells Fargo & Co has a 12 month low of $50.02 and a 12 month high of $66.31. The company has a market cap of $261.35 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, October 12th. The financial services provider reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.04). Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. The business had revenue of $21.94 billion for the quarter, compared to analysts’ expectations of $21.90 billion. As a group, research analysts predict that Wells Fargo & Co will post 4.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 9th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.24%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

Wells Fargo & Co announced that its Board of Directors has initiated a share buyback program on Tuesday, October 23rd that permits the company to repurchase 350,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several research analysts have recently weighed in on WFC shares. Edward Jones raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Zacks Investment Research cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Macquarie raised shares of Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a report on Monday, October 15th. Citigroup raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a report on Friday, November 2nd. Finally, Morgan Stanley decreased their price objective on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $63.79.

In other news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the sale, the executive vice president now directly owns 109 shares of the company’s stock, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

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Wells Fargo & Co 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 & Co (NYSE:WFC)

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