Benedict Financial Advisors Inc. reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 34.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,806 shares of the financial services provider’s stock after selling 4,076 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Wells Fargo & were worth $423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Opus Investment Management Inc. grew its stake in shares of Wells Fargo & by 20.6% during the 2nd quarter. Opus Investment Management Inc. now owns 102,500 shares of the financial services provider’s stock worth $5,680,000 after acquiring an additional 17,500 shares in the last quarter. Kistler Tiffany Companies LLC grew its stake in shares of Wells Fargo & by 2.9% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 15,657 shares of the financial services provider’s stock worth $868,000 after acquiring an additional 443 shares in the last quarter. Tufton Capital Management grew its stake in shares of Wells Fargo & by 1.0% during the 2nd quarter. Tufton Capital Management now owns 161,747 shares of the financial services provider’s stock worth $8,962,000 after acquiring an additional 1,570 shares in the last quarter. Investment Counselors of Maryland LLC grew its stake in shares of Wells Fargo & by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 43,595 shares of the financial services provider’s stock worth $2,416,000 after acquiring an additional 475 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Wells Fargo & by 71.9% during the 2nd quarter. Grove Bank & Trust now owns 15,373 shares of the financial services provider’s stock worth $852,000 after acquiring an additional 6,430 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

Wells Fargo & Company (NYSE:WFC) opened at 55.21 on Friday. The firm has a market cap of $274.06 billion, a P/E ratio of 13.60 and a beta of 0.97. The company has a 50-day moving average price of $52.98 and a 200-day moving average price of $53.58. Wells Fargo & Company has a 1-year low of $44.32 and a 1-year high of $59.99.

Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post $4.14 EPS for the current fiscal year.

Wells Fargo & announced that its Board of Directors has initiated 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 buy up to 4.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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Several equities analysts have recently weighed in on WFC shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of Wells Fargo & in a research note on Friday, July 28th. 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. Vetr raised shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price target for the company in a research note on Monday, June 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price target on shares of Wells Fargo & in a research note on Friday, June 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $57.19.

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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