Today, Triangle Securities Wealth Management invests in 1,103 by buying Wells Fargo & Co. (WFC) shares

Today, Triangle Securities Wealth Management invests in 1,103 by buying Wells Fargo & Co. (WFC) shares

Triangle Securities Wealth Management increased its stake in Wells Fargo & Co. (NYSE:WFC) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,638 shares of the financial services provider’s stock after buying an additional 1,103 shares during the period. Wells Fargo & Co. accounts for about 1.5% of Triangle Securities Wealth Management’s holdings, making the stock its 21st largest position. Triangle Securities Wealth Management’s holdings in Wells Fargo & Co. were worth $2,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Independence Advisors LLC purchased a new position in Wells Fargo & Co. during the third quarter worth approximately $240,000. Liberty Capital Management Inc. boosted its position in Wells Fargo & Co. by 20.7% in the third quarter. Liberty Capital Management Inc. now owns 34,156 shares of the financial services provider’s stock worth $1,495,000 after buying an additional 5,855 shares during the last quarter. Monarch Capital Management Inc. boosted its position in Wells Fargo & Co. by 5.1% in the third quarter. Monarch Capital Management Inc. now owns 78,835 shares of the financial services provider’s stock worth $3,491,000 after buying an additional 3,810 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Wells Fargo & Co. by 3.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 37,036 shares of the financial services provider’s stock worth $1,640,000 after buying an additional 1,395 shares during the last quarter. Finally, Stillwater Investment Management LLC boosted its position in Wells Fargo & Co. by 1.8% in the third quarter. Stillwater Investment Management LLC now owns 48,540 shares of the financial services provider’s stock worth $2,149,000 after buying an additional 867 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

Wells Fargo & Co. (NYSE:WFC) traded up 0.88% during midday trading on Friday, hitting $52.62. The stock had a trading volume of 9,635,745 shares. The stock has a 50 day moving average of $47.64 and a 200 day moving average of $47.87. The stock has a market cap of $264.27 billion, a price-to-earnings ratio of 13.06 and a beta of 0.93. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.24.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The company had revenue of $22.30 billion for the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. Analysts expect that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, November 2nd. Wells Fargo & Co.’s dividend payout ratio is presently 37.44%.

A number of brokerages have issued reports on WFC. Guggenheim lowered Wells Fargo & Co. from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $43.55 to $53.22 in a report on Tuesday, November 15th. Citigroup Inc. lowered Wells Fargo & Co. to an “underperform” rating in a report on Friday, November 18th. Vetr lowered Wells Fargo & Co. from a “sell” rating to a “strong sell” rating and set a $46.19 price objective for the company. in a report on Thursday, November 17th. BMO Capital Markets lowered Wells Fargo & Co. from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $43.55 to $47.00 in a report on Friday, November 18th. They noted that the move was a valuation call. Finally, Rafferty Capital Markets raised Wells Fargo & Co. from a “sell” rating to a “hold” rating in a report on Thursday, November 17th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $49.56.

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.

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