Oakbrook Investments LLC raised its position in shares of Wells Fargo & Co. (NYSE:WFC) by 29.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 455,914 shares of the financial services provider’s stock after buying an additional 104,000 shares during the period. Wells Fargo & Co. accounts for about 1.2% of Oakbrook Investments LLC’s portfolio, making the stock its 23rd largest position. Oakbrook Investments LLC’s holdings in Wells Fargo & Co. were worth $21,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Financial Advisory Group increased its position in shares of Wells Fargo & Co. by 0.5% in the first quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock worth $206,000 after buying an additional 22 shares during the last quarter. Bollard Group LLC increased its position in shares of Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock worth $209,000 after buying an additional 33 shares during the last quarter. Oakworth Capital Inc. increased its position in shares of Wells Fargo & Co. by 0.3% in the second quarter. Oakworth Capital Inc. now owns 14,625 shares of the financial services provider’s stock worth $741,000 after buying an additional 40 shares during the last quarter. Ken Stern & Associates Inc. increased its position in shares of Wells Fargo & Co. by 1.0% in the second quarter. Ken Stern & Associates Inc. now owns 8,716 shares of the financial services provider’s stock worth $413,000 after buying an additional 88 shares during the last quarter. Finally, Alpha Windward LLC increased its position in shares of Wells Fargo & Co. by 1.5% in the second quarter. Alpha Windward LLC now owns 6,416 shares of the financial services provider’s stock worth $304,000 after buying an additional 95 shares during the last quarter. 73.98% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.29% on Wednesday, hitting $45.32. 21,741,844 shares of the company traded hands. The stock’s 50-day moving average price is $47.02 and its 200-day moving average price is $48.13. The company has a market capitalization of $228.66 billion, a PE ratio of 11.19 and a beta of 0.91. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last announced its earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The firm had revenue of $22.20 billion for the quarter. During the same period in the previous year, the company earned $1.03 earnings per share. Wells Fargo & Co.’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Co. will post $4.02 earnings per share for the current year.

A number of research analysts recently commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Sunday, June 26th. Nomura reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Barclays PLC reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Saturday, July 9th. Drexel Hamilton reaffirmed a “buy” rating on shares of Wells Fargo & Co. in a report on Monday, July 18th. Finally, RBC Capital Markets reaffirmed a “buy” rating and issued a $54.00 price target (down previously from $57.00) on shares of Wells Fargo & Co. in a report on Tuesday, July 19th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. Wells Fargo & Co. has a consensus rating of “Hold” and an average target price of $50.41.

In related news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the sale, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at approximately $31,837,869.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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