OLD Dominion Capital Management Inc. purchased a new position in Wells Fargo & Company (NYSE:WFC) during the first quarter, Holdings Channel reports. The institutional investor purchased 13,210 shares of the financial services provider’s stock, valued at approximately $735,000.

Several other hedge funds also recently added to or reduced their stakes in WFC. Gateway Investment Advisers LLC increased its position in Wells Fargo & Company by 1.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider’s stock worth $150,186,000 after buying an additional 41,531 shares in the last quarter. Banco Santander S.A. acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $3,173,000. Confluence Wealth Management LLC increased its position in Wells Fargo & Company by 8.4% in the fourth quarter. Confluence Wealth Management LLC now owns 26,400 shares of the financial services provider’s stock worth $1,455,000 after buying an additional 2,035 shares in the last quarter. Iberiabank Corp increased its position in Wells Fargo & Company by 4.0% in the fourth quarter. Iberiabank Corp now owns 102,391 shares of the financial services provider’s stock worth $5,643,000 after buying an additional 3,979 shares in the last quarter. Finally, Investec Asset Management LTD increased its position in Wells Fargo & Company by 856.2% in the fourth quarter. Investec Asset Management LTD now owns 82,216 shares of the financial services provider’s stock worth $4,531,000 after buying an additional 73,618 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.

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

Wells Fargo & Company (NYSE WFC) opened at 54.24 on Tuesday. The stock has a market cap of $271.05 billion, a PE ratio of 13.56 and a beta of 0.97. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99. The firm’s 50-day moving average price is $53.39 and its 200 day moving average price is $55.31.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.25 billion. Wells Fargo & Company had a return on equity of 12.56% and a net margin of 23.18%. Wells Fargo & Company’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. Equities research analysts expect that Wells Fargo & Company will post $4.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Wednesday, May 3rd. Wells Fargo & Company’s dividend payout ratio is currently 38.00%.

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A number of equities analysts have commented on WFC shares. Evercore ISI decreased their price objective on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 12th. Credit Suisse Group reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Wells Fargo & Company in a report on Friday, March 3rd. Vetr raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $58.06 price objective for the company in a report on Monday, March 27th. Piper Jaffray Companies raised shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $54.84 to $55.00 in a report on Monday, April 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Wells Fargo & Company in a report on Monday, May 8th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.37.

In related news, insider Petros G. Pelos sold 24,708 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.07, for a total transaction of $1,335,961.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Sloan acquired 39,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were purchased at an average price of $51.65 per share, with a total value of $2,014,350.00. Following the completion of the acquisition, the chief executive officer now owns 754,581 shares of the company’s stock, valued at approximately $38,974,108.65. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 106,392 shares of company stock worth $5,526,822 and have sold 231,278 shares worth $12,361,120. Company insiders own 0.22% of the company’s stock.

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.

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