Financial Advisors Network Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,725 shares of the financial services provider’s stock after selling 399 shares during the quarter. Financial Advisors Network Inc.’s holdings in Wells Fargo & were worth $428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Delphi Private Advisors LLC boosted its stake in Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the last quarter. Brick & Kyle Associates boosted its stake in Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new position in Wells Fargo & during the 2nd quarter valued at $104,000. Clear Investment Research LLC bought a new position in Wells Fargo & during the 2nd quarter valued at $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in Wells Fargo & during the 1st quarter valued at $124,000. Hedge funds and other institutional investors own 75.04% of the company’s stock.

Wells Fargo & Company (NYSE WFC) opened at $55.05 on Wednesday. The stock has a market cap of $271,280.00, a P/E ratio of 13.61, a PEG ratio of 1.36 and a beta of 0.97. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a 52 week low of $44.87 and a 52 week high of $59.99.

Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. research analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.83%. Wells Fargo &’s dividend payout ratio is currently 40.31%.

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A number of research analysts have commented on the stock. Vetr upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price objective on the stock in a research note on Tuesday, October 24th. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 price objective (down from $52.00) on shares of Wells Fargo & in a research note on Wednesday, September 13th. Keefe, Bruyette & Woods reiterated an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. BidaskClub downgraded shares of Wells Fargo & from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of Wells Fargo & in a research note on Friday, July 28th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $57.20.

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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