Sunbelt Securities Inc. Sells 37,334 Shares of Wells Fargo & Co (WFC)

Sunbelt Securities Inc. lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 35.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,857 shares of the financial services provider’s stock after selling 37,334 shares during the period. Wells Fargo & Co makes up approximately 4.6% of Sunbelt Securities Inc.’s investment portfolio, making the stock its 4th largest position. Sunbelt Securities Inc.’s holdings in Wells Fargo & Co were worth $3,740,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WFC. Trent Capital Management Inc. NC bought a new stake in shares of Wells Fargo & Co during the fourth quarter valued at $102,000. Integrated Wealth Counsel LLC boosted its stake in shares of Wells Fargo & Co by 17.8% in the third quarter. Integrated Wealth Counsel LLC now owns 2,408 shares of the financial services provider’s stock valued at $107,000 after buying an additional 363 shares in the last quarter. Coconut Grove Bank boosted its stake in shares of Wells Fargo & Co by 54.9% in the third quarter. Coconut Grove Bank now owns 2,538 shares of the financial services provider’s stock valued at $112,000 after buying an additional 900 shares in the last quarter. Cable Hill Partners LLC boosted its stake in shares of Wells Fargo & Co by 10.5% in the third quarter. Cable Hill Partners LLC now owns 2,594 shares of the financial services provider’s stock valued at $117,000 after buying an additional 247 shares in the last quarter. Finally, Timber Creek Capital Management LLC boosted its stake in shares of Wells Fargo & Co by 30.0% in the third quarter. Timber Creek Capital Management LLC now owns 3,033 shares of the financial services provider’s stock valued at $134,000 after buying an additional 700 shares in the last quarter. Institutional investors own 73.25% of the company’s stock.

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

Wells Fargo & Co (NYSE:WFC) opened at 57.63 on Tuesday. Wells Fargo & Co has a 52-week low of $43.55 and a 52-week high of $59.99. The company’s 50-day moving average price is $57.80 and its 200-day moving average price is $52.28. The company has a market cap of $288.34 billion, a price-to-earnings ratio of 14.44 and a beta of 0.98.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, January 13th. The financial services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The business had revenue of $21.60 billion for the quarter. Wells Fargo & Co had a net margin of 23.30% and a return on equity of 12.60%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. Equities research analysts expect that Wells Fargo & Co will post $4.20 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd were paid a dividend of $0.38 per share. The ex-dividend date was Wednesday, February 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.64%. Wells Fargo & Co’s dividend payout ratio is 38.10%.

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Several brokerages recently weighed in on WFC. Zacks Investment Research cut Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, January 16th. Evercore ISI restated a “buy” rating and set a $51.00 target price on shares of Wells Fargo & Co in a report on Wednesday, January 11th. Argus cut Wells Fargo & Co from a “buy” rating to a “hold” rating and increased their target price for the company from $53.00 to $53.78 in a report on Wednesday, January 18th. Barclays PLC restated a “buy” rating and set a $65.00 target price on shares of Wells Fargo & Co in a report on Tuesday, January 10th. Finally, FBR & Co restated a “market perform” rating and set a $55.00 target price on shares of Wells Fargo & Co in a report on Tuesday, January 17th. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the stock. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus price target of $53.01.

In other news, insider David M. Carroll sold 117,704 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $59.02, for a total transaction of $6,946,890.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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