Callan Family Office LLC Sells 19,094 Shares of Wells Fargo & Company $WFC

Callan Family Office LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,524 shares of the financial services provider’s stock after selling 19,094 shares during the quarter. Wells Fargo & Company accounts for about 0.6% of Callan Family Office LLC’s holdings, making the stock its 28th largest position. Callan Family Office LLC’s holdings in Wells Fargo & Company were worth $17,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Wells Fargo & Company in the second quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA increased its stake in shares of Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. Amundi lifted its stake in Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 8,010.7% during the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after purchasing an additional 1,949,395 shares during the period. Finally, Mawer Investment Management Ltd. bought a new position in Wells Fargo & Company during the third quarter valued at $147,165,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $92.25 on Tuesday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $289.59 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.09. The firm’s 50 day simple moving average is $91.06 and its 200 day simple moving average is $85.38.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent research reports. Bank of America upped their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. HSBC reaffirmed a “hold” rating and set a $74.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. CICC Research began coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective for the company. Finally, Argus lifted their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.87.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.