Peapack Gladstone Financial Corp decreased its stake in Wells Fargo & Company (NYSE:WFC) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,677 shares of the financial services provider’s stock after selling 5,704 shares during the period. Peapack Gladstone Financial Corp’s holdings in Wells Fargo & were worth $5,604,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Alexandria Capital LLC raised its stake in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after buying an additional 18 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Wells Fargo & by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after buying an additional 24 shares in the last quarter. Keystone Financial Planning Inc. raised its stake in shares of Wells Fargo & by 0.6% in the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after buying an additional 39 shares in the last quarter. Finally, Advantage Investment Management LLC raised its stake in shares of Wells Fargo & by 0.3% in the first quarter. Advantage Investment Management LLC now owns 19,991 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Shares of Wells Fargo & Company (NYSE:WFC) opened at 52.84 on Monday. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The stock has a market cap of $262.44 billion, a P/E ratio of 13.01 and a beta of 0.95. The firm has a 50 day moving average of $54.49 and a 200 day moving average of $55.11.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. Wells Fargo &’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. On average, equities research analysts predict that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.39 per share. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 2.95%. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

Wells Fargo & declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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Several equities research analysts recently commented on the stock. Piper Jaffray Companies cut their price target on shares of Wells Fargo & from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods set a $62.00 price target on shares of Wells Fargo & and gave the stock a “buy” rating in a research note on Friday, May 19th. Buckingham Research reiterated a “neutral” rating and set a $62.00 price target (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Instinet cut their price target on shares of Wells Fargo & from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Finally, Zacks Investment Research lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $55.87.

In other Wells Fargo & news, insider Hope A. Hardison sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the transaction, the insider now owns 109 shares of the company’s stock, valued at approximately $5,675.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Petros G. Pelos sold 24,708 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total transaction of $1,335,961.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,278 shares of company stock worth $6,940,120. 0.22% of the stock is owned by corporate insiders.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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