HPM Partners LLC boosted its stake in shares of Wells Fargo & Co (NYSE:WFC) by 160.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,880 shares of the financial services provider’s stock after buying an additional 77,572 shares during the period. Wells Fargo & Co comprises approximately 0.6% of HPM Partners LLC’s holdings, making the stock its 27th largest position. HPM Partners LLC’s holdings in Wells Fargo & Co were worth $7,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Boston Partners boosted its position in shares of Wells Fargo & Co by 50.0% in the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after buying an additional 2,648,763 shares in the last quarter. Girard Partners LTD. raised its stake in shares of Wells Fargo & Co by 2.8% in the first quarter. Girard Partners LTD. now owns 71,318 shares of the financial services provider’s stock valued at $3,970,000 after buying an additional 1,944 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Wells Fargo & Co by 0.8% in the first quarter. Flinton Capital Management LLC now owns 604,384 shares of the financial services provider’s stock valued at $33,640,000 after buying an additional 4,848 shares during the last quarter. Greatmark Investment Partners Inc. raised its stake in shares of Wells Fargo & Co by 1.5% in the first quarter. Greatmark Investment Partners Inc. now owns 72,636 shares of the financial services provider’s stock valued at $4,043,000 after buying an additional 1,105 shares during the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Wells Fargo & Co by 4.3% in the first quarter. MCF Advisors LLC now owns 13,114 shares of the financial services provider’s stock valued at $730,000 after buying an additional 542 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Wells Fargo & Co (WFC) traded up 0.27% during mid-day trading on Wednesday, hitting $51.56. 2,361,676 shares of the stock were exchanged. The stock has a 50 day moving average of $53.60 and a 200-day moving average of $54.71. The stock has a market cap of $255.94 billion, a price-to-earnings ratio of 12.70 and a beta of 0.95. Wells Fargo & Co has a 52-week low of $43.55 and a 52-week high of $59.99.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & Co had a return on equity of 12.20% and a net margin of 26.38%. Wells Fargo & Co’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. Equities analysts predict that Wells Fargo & Co will post $4.17 EPS for the current fiscal year.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 3.03%. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.38. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 38.42%.

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WFC has been the subject of several research analyst reports. Keefe, Bruyette & Woods set a $62.00 target price on shares of Wells Fargo & Co and gave the company a “buy” rating in a research report on Friday, May 19th. Vetr upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $57.21 target price for the company in a research report on Wednesday, May 10th. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & Co in a research report on Monday, July 3rd. Instinet reiterated a “buy” rating and set a $64.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Wells Fargo & Co in a research report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $55.83.

In other news, insider Petros G. Pelos sold 24,708 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.07, for a total transaction of $1,335,961.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David M. Carroll sold 27,582 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $53.28, for a total value of $1,469,568.96. The disclosure for this sale can be found here. Insiders sold a total of 131,278 shares of company stock worth $6,940,120 in the last ninety days. 0.22% of the stock is owned by corporate insiders.

About Wells Fargo & Co

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.

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

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