Trade Report: The Wells Fargo & Co. (WFC) Stake Decreased by Mark Sheptoff Financial Planning LLC

The Wells Fargo & Co. (WFC) Stake Decreased by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC cut its stake in Wells Fargo & Co. (NYSE:WFC) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,211 shares of the financial services provider’s stock after selling 323 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Wells Fargo & Co. were worth $341,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Global X Management Co. LLC boosted its position in Wells Fargo & Co. by 64.8% in the second quarter. Global X Management Co. LLC now owns 2,301 shares of the financial services provider’s stock valued at $109,000 after buying an additional 905 shares in the last quarter. Brick & Kyle Associates boosted its position in Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock valued at $152,000 after buying an additional 303 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock valued at $154,000 after buying an additional 147 shares in the last quarter. Gemmer Asset Management LLC boosted its position in Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock valued at $177,000 after buying an additional 234 shares in the last quarter. Finally, Ironwood Financial llc purchased a new position in Wells Fargo & Co. during the first quarter valued at $182,000. Institutional investors own 73.98% of the company’s stock.

Wells Fargo & Co. (NYSE:WFC) traded down 1.74% on Thursday, hitting $44.53. The stock had a trading volume of 11,057,783 shares. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.34. The stock’s 50-day moving average is $46.94 and its 200-day moving average is $48.11. The company has a market cap of $224.68 billion, a P/E ratio of 11.00 and a beta of 0.91.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The business earned $22.20 billion during the quarter. During the same quarter in the previous year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

Several research analysts recently commented on the company. Argus reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday. Barclays PLC reissued an “overweight” rating and set a $58.00 price target on shares of Wells Fargo & Co. in a research report on Wednesday. Vetr cut Wells Fargo & Co. from a “buy” rating to a “hold” rating and set a $44.75 price target for the company. in a research report on Tuesday, October 4th. Raymond James Financial Inc. cut Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 4th. Finally, Sandler O’Neill reissued a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 30th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.41.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the sale, the chief operating officer now directly owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.

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