Butensky & Cohen Financial Security Inc. Has $2.23 Million Stake in Wells Fargo & Company (WFC)

Butensky & Cohen Financial Security Inc. grew its stake in Wells Fargo & Company (NYSE:WFC) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,365 shares of the financial services provider’s stock after purchasing an additional 1,350 shares during the quarter. Wells Fargo & Company comprises approximately 2.0% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 8th largest holding. Butensky & Cohen Financial Security Inc.’s holdings in Wells Fargo & Company were worth $2,226,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Delphi Private Advisors LLC raised its stake in Wells Fargo & Company by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,461 shares during the period. Brick & Kyle Associates raised its stake in Wells Fargo & Company by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the period. Stelac Advisory Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $104,000. Patriot Financial Group Insurance Agency LLC raised its stake in Wells Fargo & Company by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares during the period. Finally, Clear Investment Research LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $121,000. 75.69% of the stock is currently owned by institutional investors.

Wells Fargo & Company (NYSE WFC) opened at $60.36 on Wednesday. The firm has a market capitalization of $297,450.00, a PE ratio of 14.46, a PEG ratio of 1.44 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 1-year low of $49.27 and a 1-year high of $61.27.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. Wells Fargo & Company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. sell-side analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 annualized dividend and a yield of 2.58%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 40.31%.

Several brokerages recently commented on WFC. Zacks Investment Research raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Tuesday. Vetr downgraded Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $53.07 price objective on the stock. in a research note on Monday, October 2nd. Instinet reiterated a “buy” rating and set a $65.00 target price (up previously from $64.00) on shares of Wells Fargo & Company in a report on Saturday, September 30th. Nomura increased their target price on Wells Fargo & Company from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, September 28th. Finally, Vertical Group started coverage on Wells Fargo & Company in a report on Friday, October 6th. They set a “sell” rating for the company. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.25.

In related news, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Insiders sold a total of 184,482 shares of company stock valued at $10,471,050 over the last quarter. 0.22% of the stock is currently owned by company insiders.

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Wells Fargo & Company 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 & Company (NYSE:WFC)

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