Greylin Investment Mangement Inc. boosted its stake in Wells Fargo & Co. (NYSE:WFC) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 263,144 shares of the financial services provider’s stock after buying an additional 5,600 shares during the period. Wells Fargo & Co. accounts for about 3.1% of Greylin Investment Mangement Inc.’s investment portfolio, making the stock its 9th largest position. Greylin Investment Mangement Inc.’s holdings in Wells Fargo & Co. were worth $12,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanders Morris Harris Inc. bought a new stake in shares of Wells Fargo & Co. during the first quarter valued at approximately $685,000. Sii Investments Inc. WI increased its stake in shares of Wells Fargo & Co. by 33.9% in the first quarter. Sii Investments Inc. WI now owns 169,038 shares of the financial services provider’s stock valued at $8,173,000 after buying an additional 42,798 shares during the period. Investment Centers of America Inc. increased its stake in shares of Wells Fargo & Co. by 94.7% in the first quarter. Investment Centers of America Inc. now owns 69,002 shares of the financial services provider’s stock valued at $3,344,000 after buying an additional 33,564 shares during the period. RKL Wealth Management LLC increased its stake in shares of Wells Fargo & Co. by 3.7% in the first quarter. RKL Wealth Management LLC now owns 107,505 shares of the financial services provider’s stock valued at $5,199,000 after buying an additional 3,862 shares during the period. Finally, Chesley Taft & Associates LLC increased its stake in shares of Wells Fargo & Co. by 1.0% in the first quarter. Chesley Taft & Associates LLC now owns 290,566 shares of the financial services provider’s stock valued at $14,052,000 after buying an additional 2,772 shares during the period. Hedge funds and other institutional investors own 73.94% of the company’s stock.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 1.01% during trading on Tuesday, reaching $44.95. The company had a trading volume of 23,877,562 shares. The stock has a market capitalization of $226.80 billion, a price-to-earnings ratio of 11.10 and a beta of 0.91. The stock has a 50 day moving average of $46.47 and a 200 day moving average of $48.01. Wells Fargo & Co. has a 52-week low of $43.55 and a 52-week high of $56.34.

Wells Fargo & Co. (NYSE:WFC) last posted its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.02. The company earned $22.30 billion during the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. Equities research analysts forecast that Wells Fargo & Co. will post $4.02 EPS for the current year.

Several brokerages have recently commented on WFC. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Wells Fargo & Co. in a research report on Wednesday, August 31st. Vetr downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 price objective for the company. in a research report on Tuesday, August 30th. Zacks Investment Research raised shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Sandler O’Neill reaffirmed a “hold” rating on shares of Wells Fargo & Co. in a research report on Friday, September 9th. Finally, Rafferty Capital Markets downgraded shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research report on Friday, September 9th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.66.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the transaction, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at approximately $31,837,869.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by company insiders.

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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