Trade Report: Today, 850 Shares of Wells Fargo & Co. (WFC) are sold by Investment Counselors of Maryland LLC

Today, 850 Shares of Wells Fargo & Co. (WFC) are sold by Investment Counselors of Maryland LLC

Investment Counselors of Maryland LLC lowered its stake in shares of Wells Fargo & Co. (NYSE:WFC) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,640 shares of the financial services provider’s stock after selling 850 shares during the period. Investment Counselors of Maryland LLC’s holdings in Wells Fargo & Co. were worth $2,207,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. CIBC World Markets Inc. raised its position in Wells Fargo & Co. by 13.6% in the second quarter. CIBC World Markets Inc. now owns 784,944 shares of the financial services provider’s stock valued at $37,151,000 after buying an additional 93,961 shares in the last quarter. Svenska Handelsbanken AB publ bought a new position in Wells Fargo & Co. during the second quarter valued at about $15,118,000. Exxonmobil Investment Management Inc. TX raised its position in Wells Fargo & Co. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 1,195,917 shares of the financial services provider’s stock valued at $56,603,000 after buying an additional 71,107 shares in the last quarter. Lazard Asset Management LLC raised its position in Wells Fargo & Co. by 10.3% in the first quarter. Lazard Asset Management LLC now owns 6,564,216 shares of the financial services provider’s stock valued at $317,445,000 after buying an additional 611,374 shares in the last quarter. Finally, Aviva PLC raised its position in Wells Fargo & Co. by 0.7% in the first quarter. Aviva PLC now owns 3,065,051 shares of the financial services provider’s stock valued at $148,226,000 after buying an additional 22,620 shares in the last quarter. 73.94% of the stock is owned by institutional investors and hedge funds.

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 44.71 on Monday. The stock has a market cap of $225.59 billion, a price-to-earnings ratio of 11.04 and a beta of 0.91. The company’s 50-day moving average price is $46.72 and its 200 day moving average price is $48.06. Wells Fargo & Co. has a 12-month low of $43.55 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The company had revenue of $22.30 billion for the quarter. During the same period in the previous year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

WFC has been the subject of several recent analyst reports. Atlantic Securities lowered Wells Fargo & Co. from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $46.15 to $44.00 in a research report on Friday, September 16th. Rafferty Capital Markets lowered Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 price target for the company. in a research report on Friday, September 9th. Zacks Investment Research raised Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 30th. Finally, Raymond James Financial Inc. lowered Wells Fargo & Co. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 4th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Wells Fargo & Co. presently has an average rating of “Hold” and an average price target of $50.03.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the sale, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.

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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