Smead Capital Management Inc. cut its stake in Wells Fargo & Company (NYSE:WFC) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,486,021 shares of the financial services provider’s stock after selling 35,225 shares during the period. Wells Fargo & comprises about 4.0% of Smead Capital Management Inc.’s holdings, making the stock its 12th largest holding. Smead Capital Management Inc.’s holdings in Wells Fargo & were worth $82,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Wells Fargo & by 8.0% in the second quarter. Parkside Financial Bank & Trust now owns 12,144 shares of the financial services provider’s stock valued at $672,000 after buying an additional 897 shares in the last quarter. Willow Creek Wealth Management Inc. raised its stake in Wells Fargo & by 3.7% in the second quarter. Willow Creek Wealth Management Inc. now owns 13,223 shares of the financial services provider’s stock valued at $733,000 after buying an additional 474 shares in the last quarter. Probity Advisors Inc. raised its stake in Wells Fargo & by 6.1% in the second quarter. Probity Advisors Inc. now owns 7,315 shares of the financial services provider’s stock valued at $405,000 after buying an additional 418 shares in the last quarter. Eagle Global Advisors LLC raised its stake in Wells Fargo & by 1.8% in the second quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after buying an additional 2,172 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its stake in Wells Fargo & by 385.3% in the second quarter. Alpha Cubed Investments LLC now owns 147,844 shares of the financial services provider’s stock valued at $8,192,000 after buying an additional 117,380 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Shares of Wells Fargo & Company (NYSE WFC) opened at 55.58 on Friday. The firm has a 50-day moving average price of $52.59 and a 200-day moving average price of $53.59. Wells Fargo & Company has a one year low of $44.28 and a one year high of $59.99. The stock has a market cap of $275.90 billion, a price-to-earnings ratio of 13.69 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $22.23 billion. During the same quarter last year, the business earned $1.01 earnings per share. Wells Fargo &’s revenue was up .2% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post $4.14 earnings per share for the current fiscal year.

Wells Fargo & announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 price target on shares of Wells Fargo & in a research note on Friday, June 23rd. Buckingham Research restated a “neutral” rating and issued a $62.00 price target (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. UBS AG set a $57.00 price target on Wells Fargo & and gave the company a “neutral” rating in a research note on Friday. Robert W. Baird restated a “buy” rating and issued a $58.00 price target on shares of Wells Fargo & in a research note on Friday. Finally, Vertical Group assumed coverage on Wells Fargo & in a research note on Friday. They issued a “sell” rating on the stock. Eight research analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $56.44.

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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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