Usca Ria LLC Has $4.86 Million Position in Wells Fargo & Company (NYSE:WFC)

Usca Ria LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 16.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,266 shares of the financial services provider’s stock after selling 16,693 shares during the period. Usca Ria LLC’s holdings in Wells Fargo & were worth $4,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Alexandria Capital LLC boosted its position in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Rocky Mountain Advisers LLC boosted its position in shares of Wells Fargo & by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,000 shares in the last quarter. Gradient Investments LLC boosted its position in shares of Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock worth $139,000 after buying an additional 921 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Wells Fargo & by 9.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 3,003 shares of the financial services provider’s stock worth $167,000 after buying an additional 258 shares in the last quarter. Finally, Baystate Wealth Management LLC boosted its position in shares of Wells Fargo & by 125.6% in the first quarter. Baystate Wealth Management LLC now owns 3,460 shares of the financial services provider’s stock worth $184,000 after buying an additional 1,926 shares in the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Shares of Wells Fargo & Company (NYSE WFC) opened at 51.94 on Friday. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99. The firm’s 50-day moving average is $54.25 and its 200-day moving average is $55.00. The company has a market capitalization of $257.83 billion, a PE ratio of 12.79 and a beta of 0.95.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. During the same period last year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.

Wells Fargo & declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $11.50 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 2nd. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.

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Several research analysts recently commented on WFC shares. Evercore ISI cut their price target on Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 12th. Zacks Investment Research upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $62.00 price objective on shares of Wells Fargo & in a report on Monday, May 8th. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $55.87.

In related news, insider Mary T. Mack sold 38,988 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $52.58, for a total transaction of $2,049,989.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Hope A. Hardison sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the transaction, the insider now directly owns 109 shares in the company, valued at $5,675.63. The disclosure for this sale can be found here. Insiders sold 131,278 shares of company stock worth $6,940,120 over the last ninety days. Insiders own 0.22% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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