Eqis Capital Management Inc. Acquires 8,504 Shares of Wells Fargo & Co (NYSE:WFC)

Eqis Capital Management Inc. grew its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 28.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,701 shares of the financial services provider’s stock after buying an additional 8,504 shares during the period. Eqis Capital Management Inc.’s holdings in Wells Fargo & Co were worth $1,952,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Bath Savings Trust Co increased its stake in shares of Wells Fargo & Co by 7.4% during the 2nd quarter. Bath Savings Trust Co now owns 4,529 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 312 shares during the last quarter. Thomasville National Bank increased its holdings in Wells Fargo & Co by 1.3% during the second quarter. Thomasville National Bank now owns 53,713 shares of the financial services provider’s stock worth $2,542,000 after buying an additional 714 shares during the last quarter. Bright Rock Capital Management LLC increased its holdings in Wells Fargo & Co by 19.5% during the second quarter. Bright Rock Capital Management LLC now owns 208,215 shares of the financial services provider’s stock worth $9,853,000 after buying an additional 34,000 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in Wells Fargo & Co by 1.8% during the second quarter. Beese Fulmer Investment Management Inc. now owns 107,828 shares of the financial services provider’s stock worth $5,102,000 after buying an additional 1,925 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in Wells Fargo & Co by 8.7% during the second quarter. Rockland Trust Co. now owns 409,345 shares of the financial services provider’s stock worth $19,370,000 after buying an additional 32,697 shares during the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.

Shares of Wells Fargo & Co stock traded down $0.74 during trading on Wednesday, reaching $53.48. The company’s stock had a trading volume of 10,157,263 shares, compared to its average volume of 20,744,758. The business’s 50-day moving average price is $50.71 and its 200-day moving average price is $47.70. The firm has a market cap of $228.81 billion, a PE ratio of 12.21, a P/E/G ratio of 1.13 and a beta of 1.11. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $55.04. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.33.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.23). The business had revenue of $22.01 billion during the quarter, compared to the consensus estimate of $21.32 billion. Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. Equities analysts predict that Wells Fargo & Co will post 4.46 earnings per share for the current year.

Wells Fargo & Co announced that its board has authorized a stock buyback program on Tuesday, July 23rd that permits the company to buyback 350,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a $0.51 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.81%. Wells Fargo & Co’s payout ratio is presently 46.58%.

Several equities analysts have commented on WFC shares. Credit Suisse Group upped their price objective on shares of Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, October 4th. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Robert W. Baird downgraded shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Monday, September 30th. BMO Capital Markets decreased their price objective on shares of Wells Fargo & Co from $59.00 to $57.00 and set a “market perform” rating on the stock in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Co from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus price target of $49.75.

About Wells Fargo & Co

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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