First Midwest Bank Trust Division Decreases Stake in Wells Fargo & Co (NYSE:WFC)

First Midwest Bank Trust Division lowered its position in Wells Fargo & Co (NYSE:WFC) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,807 shares of the financial services provider’s stock after selling 261 shares during the quarter. First Midwest Bank Trust Division’s holdings in Wells Fargo & Co were worth $1,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WFC. Gilbert & Cook Inc. grew its holdings in Wells Fargo & Co by 0.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 40,447 shares of the financial services provider’s stock valued at $1,914,000 after buying an additional 225 shares in the last quarter. Private Wealth Advisors Inc. grew its holdings in Wells Fargo & Co by 1.2% during the 2nd quarter. Private Wealth Advisors Inc. now owns 20,653 shares of the financial services provider’s stock valued at $977,000 after buying an additional 242 shares in the last quarter. Warren Averett Asset Management LLC grew its holdings in Wells Fargo & Co by 4.3% during the 2nd quarter. Warren Averett Asset Management LLC now owns 5,937 shares of the financial services provider’s stock valued at $281,000 after buying an additional 245 shares in the last quarter. Peoples Financial Services CORP. grew its holdings in Wells Fargo & Co by 0.8% during the 3rd quarter. Peoples Financial Services CORP. now owns 32,385 shares of the financial services provider’s stock valued at $1,633,000 after buying an additional 251 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Wells Fargo & Co by 1.3% during the 3rd quarter. Fulton Bank N.A. now owns 19,943 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 253 shares in the last quarter. 75.28% of the stock is owned by institutional investors.

A number of research analysts have weighed in on the company. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday. Macquarie downgraded Wells Fargo & Co from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $54.00 to $47.00 in a research report on Wednesday, July 17th. Credit Suisse Group lifted their price target on Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $48.00 price target for the company. in a research report on Thursday, June 27th. Finally, Bank of America set a $50.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and a consensus target price of $49.75.

Shares of WFC opened at $49.97 on Friday. The company has a market cap of $218.59 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.11. The company has a current ratio of 0.86, a quick ratio of 0.87 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average price of $48.66 and a 200-day moving average price of $47.19. Wells Fargo & Co has a 12-month low of $43.02 and a 12-month high of $55.04.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.23). The firm had revenue of $22.01 billion during the quarter, compared to the consensus estimate of $21.32 billion. Wells Fargo & Co had a return on equity of 13.01% and a net margin of 21.67%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, analysts predict that Wells Fargo & Co will post 4.55 earnings per share for the current year.

Wells Fargo & Co announced that its board has authorized a share buyback program on Thursday, June 27th that permits the company to repurchase $23.10 billion in shares. This repurchase authorization permits the financial services provider to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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