Trade Report: Today: Catawba Capital Management VA Sold shares of Wells Fargo & Co. (WFC)

Today: Catawba Capital Management VA Sold shares of Wells Fargo & Co. (WFC)

Catawba Capital Management VA lowered its stake in Wells Fargo & Co. (NYSE:WFC) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 102,922 shares of the financial services provider’s stock after selling 2,623 shares during the period. Catawba Capital Management VA’s holdings in Wells Fargo & Co. were worth $4,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC boosted its position in shares of 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. Tradewinds Capital Management LLC boosted its position in shares of 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. Cedar Wealth Management LLC boosted its position in shares of Wells Fargo & Co. by 47.8% in the second quarter. Cedar Wealth Management LLC now owns 3,276 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,059 shares in the last quarter. Gemmer Asset Management LLC boosted its position in shares of 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, Bellwether Investment Group LLC acquired a new position in shares of Wells Fargo & Co. during the second quarter valued at approximately $186,000. 72.76% of the stock is currently owned by institutional investors.

Wells Fargo & Co. (NYSE:WFC) traded down 1.98% on Monday, reaching $51.58. 26,484,186 shares of the company traded hands. The company has a market capitalization of $259.05 billion, a PE ratio of 12.80 and a beta of 0.93. The stock’s 50 day moving average price is $47.64 and its 200 day moving average price is $47.87. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.24.

Wells Fargo & Co. (NYSE:WFC) last announced its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ 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 23.91% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. On average, equities research analysts predict that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 annualized dividend and a yield of 2.89%. Wells Fargo & Co.’s payout ratio is currently 37.44%.

A number of brokerages recently issued reports on WFC. Jefferies Group reissued a “hold” rating on shares of Wells Fargo & Co. in a research note on Monday. Barclays PLC reissued an “outperform” rating and issued a $56.00 price objective (down from $58.00) on shares of Wells Fargo & Co. in a research note on Tuesday, October 18th. Vetr cut shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $45.66 price objective on the stock. in a research note on Wednesday, November 9th. FBR & Co cut shares of Wells Fargo & Co. from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $50.00 to $45.00 in a research note on Wednesday, October 19th. Finally, reissued an “outperform” rating and issued a $57.00 price objective on shares of Wells Fargo & Co. in a research note on Tuesday, September 20th. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. Wells Fargo & Co. has an average rating of “Hold” and a consensus price target of $49.56.

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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