First Long Island Investors LLC decreased its holdings in Wells Fargo & Co (NYSE:WFC) by 24.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 191,488 shares of the financial services provider’s stock after selling 61,070 shares during the period. First Long Island Investors LLC’s holdings in Wells Fargo & Co were worth $10,616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coyle Financial Counsel LLC purchased a new position in Wells Fargo & Co in the first quarter valued at approximately $101,000. Landaas & Co. WI ADV purchased a new position in Wells Fargo & Co in the second quarter valued at approximately $117,000. Turim 21 Investimentos Ltda. purchased a new position in Wells Fargo & Co in the first quarter valued at approximately $177,000. Stelac Advisory Services LLC raised its holdings in Wells Fargo & Co by 99.3% in the first quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,784 shares during the period. Finally, Diligent Investors LLC purchased a new position in Wells Fargo & Co in the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 75.76% of the company’s stock.

In other news, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the sale, the executive vice president now owns 109 shares of the company’s stock, valued at $6,323.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Shares of NYSE:WFC opened at $55.00 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo & Co has a 52-week low of $50.26 and a 52-week high of $66.31. The company has a market capitalization of $279.89 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.55 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. The firm had revenue of $21.55 billion during the quarter, compared to analyst estimates of $21.52 billion. analysts anticipate that Wells Fargo & Co will post 4.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Friday, August 10th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, August 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.85%.

Several research analysts recently commented on WFC shares. Zacks Investment Research lowered shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Susquehanna Bancshares set a $63.00 price target on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Morgan Stanley upgraded shares of Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $57.00 to $62.00 in a report on Monday, July 2nd. Finally, Macquarie lowered shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.34.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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