RNC Capital Management LLC increased its stake in shares of Wells Fargo & Co. (NYSE:WFC) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 800,527 shares of the financial services provider’s stock after buying an additional 3,534 shares during the period. Wells Fargo & Co. makes up 3.5% of RNC Capital Management LLC’s portfolio, making the stock its 3rd largest position. RNC Capital Management LLC’s holdings in Wells Fargo & Co. were worth $37,889,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Advisory Group boosted 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 boosted 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. boosted 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. boosted 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 boosted 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 currently owned by institutional investors and hedge funds.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 0.09% during mid-day trading on Friday, hitting $44.71. 45,418,598 shares of the company traded hands. The stock has a market capitalization of $225.59 billion, a price-to-earnings ratio of 11.04 and a beta of 0.91. The firm has a 50-day moving average of $46.72 and a 200-day moving average of $48.06. Wells Fargo & Co. has a one year low of $43.55 and a one year high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The firm had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $22.22 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The business’s revenue was up 2.1% 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.

WFC has been the topic of a number of recent research reports. Vetr cut shares of Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 price objective on the stock. in a research note on Wednesday, July 6th. Royal Bank Of Canada reduced their price objective on shares of Wells Fargo & Co. from $57.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, July 18th. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Wells Fargo & Co. in a research note on Friday, September 23rd. Evercore ISI reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Wells Fargo & Co. in a research note on Monday, July 18th. Finally, Keefe, Bruyette & Woods set a $57.00 price objective on shares of Wells Fargo & Co. and gave the company a “buy” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $50.03.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 650,815 shares in the company, valued at $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

About Wells Fargo & Co.

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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