Trade Report: The Leisure Capital Management Raises its position in Wells Fargo & Co. (WFC) as a favorable investment target.

The Leisure Capital Management Raises its position in Wells Fargo & Co. (WFC) as a favorable investment target.

Leisure Capital Management increased its position in shares of Wells Fargo & Co. (NYSE:WFC) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 45,873 shares of the financial services provider’s stock after buying an additional 446 shares during the period. Wells Fargo & Co. comprises about 2.4% of Leisure Capital Management’s portfolio, making the stock its 12th largest position. Leisure Capital Management’s holdings in Wells Fargo & Co. were worth $2,171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Cohen Lawrence B increased its stake in Wells Fargo & Co. by 16.1% in the first quarter. Cohen Lawrence B now owns 12,639 shares of the financial services provider’s stock worth $611,000 after buying an additional 1,750 shares during the period. Rosenbaum Jay D. acquired a new stake in Wells Fargo & Co. during the first quarter worth $305,000. Moreno Evelyn V increased its stake in Wells Fargo & Co. by 1.3% in the first quarter. Moreno Evelyn V now owns 104,940 shares of the financial services provider’s stock worth $5,075,000 after buying an additional 1,370 shares during the period. Raymond James Trust N.A. increased its stake in Wells Fargo & Co. by 2.5% in the first quarter. Raymond James Trust N.A. now owns 288,724 shares of the financial services provider’s stock worth $13,962,000 after buying an additional 7,058 shares during the period. Finally, Stokes & Hubbell Capital Management LLC increased its stake in Wells Fargo & Co. by 27.7% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 43,872 shares of the financial services provider’s stock worth $2,122,000 after buying an additional 9,513 shares during the period. Institutional investors own 73.98% of the company’s stock.

Wells Fargo & Co. (NYSE:WFC) traded up 0.40% during trading on Friday, reaching $44.93. 10,815,475 shares of the company’s stock traded hands. The stock has a market cap of $226.70 billion, a P/E ratio of 11.09 and a beta of 0.91. The firm’s 50 day moving average price is $46.82 and its 200-day moving average price is $48.09. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.02. The business earned $22.30 billion during the quarter. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. On average, equities analysts anticipate that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

WFC has been the topic of a number of research reports. Vetr downgraded shares of Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 target price on the stock. in a report on Wednesday, July 6th. Royal Bank Of Canada dropped their price target on shares of Wells Fargo & Co. from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Wells Fargo & Co. in a research note on Friday, September 23rd. Evercore ISI reaffirmed a “buy” rating and set a $53.00 price target on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Finally, Keefe, Bruyette & Woods set a $57.00 price target on shares of Wells Fargo & Co. and gave the stock a “buy” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. Wells Fargo & Co. has a consensus rating of “Hold” and an average target price of $50.35.

In other news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction that occurred on 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 owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Wells Fargo & Co. Company Profile

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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