Cornerstone Advisors Inc. cut its holdings in Wells Fargo & Company (NYSE:WFC) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,138 shares of the financial services provider’s stock after selling 805 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Wells Fargo & were worth $506,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Delphi Private Advisors LLC boosted its stake in Wells Fargo & by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Alexandria Capital LLC boosted 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 boosted 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 acquired a new stake in Wells Fargo & in the first quarter valued at about $124,000. Finally, America First Investment Advisors LLC boosted 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. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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Wells Fargo & Company (NYSE WFC) traded up 0.72% during midday trading on Friday, hitting $51.66. The stock had a trading volume of 28,494,345 shares. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $59.99. The company has a market cap of $256.44 billion, a P/E ratio of 12.72 and a beta of 0.96. The firm’s 50-day moving average price is $51.92 and its 200 day moving average price is $54.04.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter last year, the business posted $1.01 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post $4.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, August 2nd. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

Wells Fargo & declared that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

WFC has been the topic of several research analyst reports. Instinet reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & in a research note on Wednesday, July 12th. Vetr raised Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price objective on the stock in a research note on Monday, June 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Wells Fargo & in a research note on Friday, June 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & in a research note on Friday, July 28th. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.47.

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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