Chesley Taft & Associates LLC reduced its position in shares of Wells Fargo & Co. (NYSE:WFC) by 0.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 288,629 shares of the financial services provider’s stock after selling 1,937 shares during the period. Wells Fargo & Co. comprises approximately 1.4% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 17th largest position. Chesley Taft & Associates LLC’s holdings in Wells Fargo & Co. were worth $13,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Wilbanks Smith & Thomas Asset Management LLC boosted its position in Wells Fargo & Co. by 1.9% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 60,614 shares of the financial services provider’s stock worth $2,931,000 after buying an additional 1,156 shares in the last quarter. IMS Capital Management boosted its position in Wells Fargo & Co. by 22.6% in the first quarter. IMS Capital Management now owns 5,846 shares of the financial services provider’s stock worth $283,000 after buying an additional 1,076 shares in the last quarter. PacWest Financial Management Inc boosted its position in Wells Fargo & Co. by 10.2% in the first quarter. PacWest Financial Management Inc now owns 42,265 shares of the financial services provider’s stock worth $2,043,000 after buying an additional 3,910 shares in the last quarter. North Star Investment Management Corp. boosted its position in Wells Fargo & Co. by 4.0% in the first quarter. North Star Investment Management Corp. now owns 16,996 shares of the financial services provider’s stock worth $822,000 after buying an additional 652 shares in the last quarter. Finally, Delta Asset Management LLC TN boosted its position in Wells Fargo & Co. by 1.1% in the first quarter. Delta Asset Management LLC TN now owns 435,717 shares of the financial services provider’s stock worth $21,071,000 after buying an additional 4,755 shares in the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

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

Wells Fargo & Co. (NYSE:WFC) traded down 0.09% during midday trading on Friday, hitting $44.71. The stock had a trading volume of 45,418,598 shares. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.34. The firm’s 50-day moving average price is $46.72 and its 200 day moving average price is $48.06. The company has a market cap of $225.59 billion, a P/E ratio of 11.04 and a beta of 0.91.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The business had revenue of $22.30 billion for the quarter, compared to analyst estimates of $22.22 billion. During the same period last year, the company earned $1.05 EPS. Wells Fargo & Co.’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Co. will post $4.02 earnings per share for the current fiscal year.

A number of research firms have issued reports on WFC. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Wells Fargo & Co. in a research report on Wednesday, August 31st. Vetr cut Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price on the stock. in a research report on Tuesday, August 30th. Zacks Investment Research upgraded Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Sandler O’Neill reiterated a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 9th. Finally, Rafferty Capital Markets cut Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research report on Friday, September 9th. Seven 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.03.

In related news, COO Timothy J. Sloan sold 20,500 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was 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 directly owns 650,815 shares in the company, valued at approximately $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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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