KAMES CAPITAL plc cut its position in shares of Wells Fargo & Co. (NYSE:WFC) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 784,445 shares of the financial services provider’s stock after selling 11,938 shares during the period. KAMES CAPITAL plc’s holdings in Wells Fargo & Co. were worth $37,143,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WFC. Baker Avenue Asset Management LP increased its stake in Wells Fargo & Co. by 63.2% in the first quarter. Baker Avenue Asset Management LP now owns 136,519 shares of the financial services provider’s stock worth $6,602,000 after buying an additional 52,893 shares during the last quarter. NorthRock Partners LLC increased its stake in Wells Fargo & Co. by 29.6% in the first quarter. NorthRock Partners LLC now owns 6,518 shares of the financial services provider’s stock worth $315,000 after buying an additional 1,489 shares during the last quarter. Parametric Risk Advisors LLC increased its stake in Wells Fargo & Co. by 61.2% in the first quarter. Parametric Risk Advisors LLC now owns 238,851 shares of the financial services provider’s stock worth $11,551,000 after buying an additional 90,714 shares during the last quarter. Sentry Investments Corp. increased its stake in Wells Fargo & Co. by 3.4% in the first quarter. Sentry Investments Corp. now owns 2,807,495 shares of the financial services provider’s stock worth $135,770,000 after buying an additional 92,000 shares during the last quarter. Finally, Crystal Rock Capital Management acquired a new stake in Wells Fargo & Co. during the first quarter worth approximately $1,107,000. Institutional investors own 73.78% of the company’s stock.

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

Shares of Wells Fargo & Co. (NYSE:WFC) traded up 0.63% during trading on Friday, reaching $52.82. 29,673,414 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $45.63 and its 200 day moving average price is $47.72. Wells Fargo & Co. has a 52 week low of $43.55 and a 52 week high of $56.26. The firm has a market capitalization of $265.28 billion, a PE ratio of 13.11 and a beta of 0.93.

Wells Fargo & Co. (NYSE:WFC) last issued its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The company had revenue of $22.30 billion for the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. Analysts predict that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 4th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.88%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.44%.

Several research firms have recently weighed in on WFC. Guggenheim cut shares of Wells Fargo & Co. from a “buy” rating to a “neutral” rating and increased their price target for the company from $43.55 to $53.22 in a research note on Tuesday. Citigroup Inc. cut shares of Wells Fargo & Co. to an “underperform” rating in a research note on Friday. Vetr cut shares of Wells Fargo & Co. from a “sell” rating to a “strong sell” rating and set a $46.19 price target for the company. in a research note on Thursday. BMO Capital Markets cut shares of Wells Fargo & Co. from a “market perform” rating to an “underperform” rating and increased their price target for the company from $43.55 to $47.00 in a research note on Friday. They noted that the move was a valuation call. Finally, Rafferty Capital Markets raised shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a research note on Thursday. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.56.

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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