Lowe Brockenbrough & Co. Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,034 shares of the financial services provider’s stock after purchasing an additional 1,172 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Wells Fargo & were worth $5,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Oak Wealth Management Inc. grew its position in shares of Wells Fargo & by 303.9% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 95,808 shares of the financial services provider’s stock valued at $5,333,000 after purchasing an additional 72,090 shares in the last quarter. Meridian Wealth Management LLC grew its position in shares of Wells Fargo & by 59.3% during the 1st quarter. Meridian Wealth Management LLC now owns 24,298 shares of the financial services provider’s stock valued at $1,352,000 after purchasing an additional 9,049 shares in the last quarter. Colony Group LLC grew its position in shares of Wells Fargo & by 5.8% during the 1st quarter. Colony Group LLC now owns 5,241 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 285 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Wells Fargo & by 24.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 96,365 shares of the financial services provider’s stock valued at $5,364,000 after purchasing an additional 19,165 shares in the last quarter. Finally, Security National Bank of SO Dak grew its position in shares of Wells Fargo & by 1.2% during the 1st quarter. Security National Bank of SO Dak now owns 6,497 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

WFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods set a $62.00 price target on shares of Wells Fargo & and gave the company a “buy” rating in a research report on Friday, May 19th. Jefferies Group LLC restated a “hold” rating and set a $62.00 price target on shares of Wells Fargo & in a research report on Thursday, June 8th. BidaskClub upgraded shares of Wells Fargo & from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Vetr lowered shares of Wells Fargo & from a “buy” rating to a “hold” rating and set a $54.80 price target for the company. in a research report on Monday, June 12th. Finally, Zacks Investment Research lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.77.

Wells Fargo & Company (WFC) traded down 0.43% during trading on Wednesday, reaching $51.35. 5,946,850 shares of the company were exchanged. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99. The company’s 50-day moving average price is $52.29 and its 200-day moving average price is $54.17. The stock has a market capitalization of $254.90 billion, a P/E ratio of 12.65 and a beta of 0.96.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same period in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post $4.16 EPS for the current year.

Wells Fargo & announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a dividend of $0.39 per share. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.03%. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

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About Wells Fargo &

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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