Orca Investment Management LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,310 shares of the financial services provider’s stock after selling 300 shares during the quarter. Wells Fargo & accounts for about 1.4% of Orca Investment Management LLC’s holdings, making the stock its 27th biggest position. Orca Investment Management LLC’s holdings in Wells Fargo & were worth $1,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Harris Associates L P grew its holdings in shares of Wells Fargo & by 1.2% during the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after buying an additional 286,710 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Wells Fargo & by 3.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 14,311,805 shares of the financial services provider’s stock valued at $796,596,000 after buying an additional 423,113 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Wells Fargo & by 0.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock valued at $746,726,000 after buying an additional 93,236 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Wells Fargo & by 49.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after buying an additional 3,214,592 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Wells Fargo & by 1.6% during the first quarter. AQR Capital Management LLC now owns 9,588,696 shares of the financial services provider’s stock valued at $533,707,000 after buying an additional 149,538 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Buckingham Research reiterated a “neutral” rating and set a $62.00 price objective (up from $60.00) on shares of Wells Fargo & in a report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price objective on shares of Wells Fargo & in a report on Friday, June 23rd. Jefferies Group LLC reiterated a “hold” rating and set a $62.00 price objective on shares of Wells Fargo & in a report on Thursday, June 8th. Piper Jaffray Companies reiterated a “hold” rating on shares of Wells Fargo & in a report on Sunday, July 30th. Finally, BidaskClub cut shares of Wells Fargo & from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.41.

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Wells Fargo & Company (NYSE:WFC) traded up 1.4061% during mid-day trading on Thursday, hitting $55.7328. 6,893,883 shares of the stock traded hands. The company’s 50 day moving average price is $52.40 and its 200-day moving average price is $53.59. Wells Fargo & Company has a 1-year low of $44.28 and a 1-year high of $59.99. The stock has a market cap of $276.65 billion, a price-to-earnings ratio of 13.7273 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter last year, the business earned $1.01 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post $4.15 earnings per share for the current year.

Wells Fargo & announced that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $11.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are often 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.

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

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