Parthenon LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 16.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,549 shares of the financial services provider’s stock after buying an additional 800 shares during the period. Parthenon LLC’s holdings in Wells Fargo & were worth $307,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Alexandria Capital LLC raised its stake in Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Brick & Kyle Associates raised its stake in Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Wells Fargo & during the first quarter valued at about $124,000. Gradient Investments LLC raised its stake in Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock valued at $139,000 after buying an additional 921 shares in the last quarter. Finally, America First Investment Advisors LLC raised its stake in Wells Fargo & by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock valued at $145,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

Wells Fargo & Company (NYSE:WFC) traded up 0.06% during midday trading on Wednesday, reaching $52.25. 4,751,125 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $53.96 and a 200 day moving average price of $54.82. The company has a market cap of $259.37 billion, a price-to-earnings ratio of 12.87 and a beta of 0.95. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99.

Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion during 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%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, analysts expect that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 2.99%. Wells Fargo &’s payout ratio is currently 38.42%.

Wells Fargo & declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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Several research firms recently issued reports on WFC. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Wells Fargo & from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. BMO Capital Markets upgraded shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $50.00 to $47.00 in a research report on Monday, July 31st. They noted that the move was a valuation call. Buckingham Research reiterated a “neutral” rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Finally, Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price target on the stock in a research report on Monday, June 26th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Wells Fargo & has an average rating of “Hold” and an average price target of $55.87.

In other Wells Fargo & news, insider Petros G. Pelos sold 24,708 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total value of $1,335,961.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hope A. Hardison sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the completion of the transaction, the insider now owns 109 shares of the company’s stock, valued at $5,675.63. The disclosure for this sale can be found here. Insiders sold 131,278 shares of company stock valued at $6,940,120 over the last quarter. 0.22% of the stock is currently owned by corporate 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.

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

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