The Affinity Investment Advisors LLC Sells 86,467 Shares of Wells Fargo & Co. (WFC)

The Affinity Investment Advisors LLC Sells 86,467 Shares of Wells Fargo & Co. (WFC)

Affinity Investment Advisors LLC decreased its stake in Wells Fargo & Co. (NYSE:WFC) by 12.1% during the third quarter, Holdings Channel reports. The institutional investor owned 630,350 shares of the financial services provider’s stock after selling 86,467 shares during the period. Wells Fargo & Co. comprises approximately 2.4% of Affinity Investment Advisors LLC’s holdings, making the stock its 3rd largest position. Affinity Investment Advisors LLC’s holdings in Wells Fargo & Co. were worth $27,912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Wells Fargo & Co. by 2.2% in the second quarter. Vanguard Group Inc. now owns 288,028,042 shares of the financial services provider’s stock worth $13,632,368,000 after buying an additional 6,247,583 shares during the period. TIAA CREF Investment Management LLC raised its position in Wells Fargo & Co. by 2.8% in the second quarter. TIAA CREF Investment Management LLC now owns 29,781,903 shares of the financial services provider’s stock worth $1,409,577,000 after buying an additional 810,161 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Wells Fargo & Co. by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,714,185 shares of the financial services provider’s stock worth $1,169,680,000 after buying an additional 2,987,795 shares during the last quarter. Davis Selected Advisers raised its position in Wells Fargo & Co. by 1.2% in the second quarter. Davis Selected Advisers now owns 24,227,545 shares of the financial services provider’s stock worth $1,146,690,000 after buying an additional 294,032 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Wells Fargo & Co. by 1.9% in the second quarter. Legal & General Group Plc now owns 23,166,689 shares of the financial services provider’s stock worth $1,096,389,000 after buying an additional 436,801 shares during the last quarter. 72.57% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Co. (NYSE:WFC) opened at 54.27 on Thursday. The company has a 50-day moving average of $55.24 and a 200-day moving average of $49.54. Wells Fargo & Co. has a 52 week low of $43.55 and a 52 week high of $58.02. The company has a market cap of $272.22 billion, a PE ratio of 13.60 and a beta of 0.99.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.04. The company earned $21.60 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.60% and a net margin of 23.30%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, equities analysts expect that Wells Fargo & Co. will post $4.19 EPS for the current year.

A number of research firms recently weighed in on WFC. Argus lowered shares of Wells Fargo & Co. from a “buy” rating to a “hold” rating and raised their price target for the company from $53.00 to $53.78 in a research report on Wednesday. Evercore ISI reissued a “buy” rating and set a $58.00 price target on shares of Wells Fargo & Co. in a research report on Thursday, December 15th. Jefferies Group lowered shares of Wells Fargo & Co. from a “buy” rating to a “hold” rating in a research report on Monday, November 28th. FBR & Co reissued a “market perform” rating and set a $55.00 price target on shares of Wells Fargo & Co. in a research report on Tuesday. Finally, BMO Capital Markets reissued a “sell” rating and set a $50.00 price target on shares of Wells Fargo & Co. in a research report on Wednesday, January 11th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $51.57.

About Wells Fargo & Co.

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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