Keel Point LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 7.9% during the first quarter, Holdings Channel reports. The firm owned 9,004 shares of the financial services provider’s stock after selling 774 shares during the period. Keel Point LLC’s holdings in Wells Fargo & were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of WFC. Dodge & Cox purchased a new position in shares of Wells Fargo & during the fourth quarter worth about $3,942,119,000. Norges Bank purchased a new position in shares of Wells Fargo & during the fourth quarter worth about $2,800,566,000. Harris Associates L P raised its position in shares of Wells Fargo & by 1.2% in the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock worth $1,324,492,000 after buying an additional 286,710 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Wells Fargo & by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 14,311,805 shares of the financial services provider’s stock worth $796,596,000 after buying an additional 423,113 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Wells Fargo & by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock worth $746,726,000 after buying an additional 93,236 shares during the period. Institutional investors own 75.85% of the company’s stock.

Wells Fargo & Company (NYSE WFC) traded down 0.087% during midday trading on Friday, reaching $51.905. The company had a trading volume of 4,253,589 shares. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99. The stock has a market capitalization of $257.65 billion, a PE ratio of 12.784 and a beta of 0.95. The firm’s 50 day moving average is $54.27 and its 200 day moving average is $55.02.

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

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

Wells Fargo & declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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WFC has been the subject of a number of research analyst reports. Berenberg Bank lowered Wells Fargo & from a “hold” rating to a “sell” rating and raised their target price for the stock from $35.00 to $45.00 in a research note on Friday, July 21st. Vining Sparks upgraded Wells Fargo & to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Thursday, April 27th. Evercore ISI restated an “outperform” rating and issued a $64.00 target price on shares of Wells Fargo & in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods restated an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Finally, Buckingham Research restated a “neutral” rating and issued a $62.00 target price (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Six research analysts have rated the stock with a sell rating, fourteen have given 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 a consensus target price of $55.87.

In other Wells Fargo & news, insider Hope A. Hardison sold 20,000 shares of the stock in a transaction that occurred on 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 owns 109 shares of the company’s stock, valued at $5,675.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Petros G. Pelos sold 24,708 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $54.07, for a total transaction of $1,335,961.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,278 shares of company stock worth $6,940,120. 0.22% of the stock is currently owned by insiders.

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.

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

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