Reliance Trust Co. of Delaware lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,189 shares of the financial services provider’s stock after selling 4,857 shares during the period. Wells Fargo & comprises approximately 0.8% of Reliance Trust Co. of Delaware’s investment portfolio, making the stock its 21st biggest position. Reliance Trust Co. of Delaware’s holdings in Wells Fargo & were worth $5,385,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WFC. SFE Investment Counsel raised its stake in shares of Wells Fargo & by 1.3% during the first quarter. SFE Investment Counsel now owns 140,694 shares of the financial services provider’s stock valued at $7,831,000 after acquiring an additional 1,770 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Wells Fargo & by 12.5% during the first quarter. DnB Asset Management AS now owns 504,018 shares of the financial services provider’s stock valued at $28,054,000 after acquiring an additional 56,200 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Wells Fargo & by 0.8% during the first quarter. Duff & Phelps Investment Management Co. now owns 31,890 shares of the financial services provider’s stock valued at $1,775,000 after acquiring an additional 240 shares in the last quarter. Goldstein Munger & Associates raised its stake in shares of Wells Fargo & by 40.8% during the first quarter. Goldstein Munger & Associates now owns 6,900 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Coastline Trust Co raised its stake in shares of Wells Fargo & by 10.1% during the first quarter. Coastline Trust Co now owns 59,812 shares of the financial services provider’s stock valued at $3,329,000 after acquiring an additional 5,500 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

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Several analysts have recently weighed in on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research reaffirmed a “neutral” rating and set a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Finally, Instinet reaffirmed a “buy” rating and set a $64.00 price target on shares of Wells Fargo & in a research note on Wednesday, July 12th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.26.

Wells Fargo & Company (NYSE:WFC) opened at 54.21 on Thursday. The company’s 50 day moving average is $51.89 and its 200 day moving average is $53.88. The firm has a market cap of $269.10 billion, a P/E ratio of 13.35 and a beta of 0.96. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99.

Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post $4.15 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.90%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s payout ratio is currently 38.42%.

Wells Fargo & announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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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