CSat Investment Advisory L.P. raised its position in shares of Wells Fargo & Co (NYSE:WFC) by 22,827.6% in the second quarter, Holdings Channel reports. The firm owned 6,649 shares of the financial services provider’s stock after buying an additional 6,620 shares during the period. CSat Investment Advisory L.P.’s holdings in Wells Fargo & Co were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust grew its holdings in Wells Fargo & Co by 1.5% in the 1st quarter. Grove Bank & Trust now owns 14,701 shares of the financial services provider’s stock valued at $710,000 after buying an additional 214 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in Wells Fargo & Co by 0.6% in the 2nd quarter. Gilbert & Cook Inc. now owns 40,447 shares of the financial services provider’s stock valued at $1,914,000 after buying an additional 225 shares during the last quarter. Legacy Bridge LLC grew its holdings in Wells Fargo & Co by 1.2% in the 1st quarter. Legacy Bridge LLC now owns 19,206 shares of the financial services provider’s stock valued at $928,000 after buying an additional 230 shares during the last quarter. Brand Asset Management Group Inc. grew its holdings in Wells Fargo & Co by 96.8% in the 1st quarter. Brand Asset Management Group Inc. now owns 492 shares of the financial services provider’s stock valued at $31,000 after buying an additional 242 shares during the last quarter. Finally, Private Wealth Advisors Inc. grew its holdings in Wells Fargo & Co by 1.2% in the 2nd quarter. Private Wealth Advisors Inc. now owns 20,653 shares of the financial services provider’s stock valued at $977,000 after buying an additional 242 shares during the last quarter. 75.29% of the stock is owned by institutional investors.

WFC stock traded down $0.28 during trading on Friday, hitting $48.63. The company had a trading volume of 30,254,595 shares, compared to its average volume of 18,337,244. The company has a fifty day moving average price of $46.53 and a two-hundred day moving average price of $47.23. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.36. The company has a market cap of $215.50 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.96 and a beta of 1.09. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $55.81.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.14. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $20.95 billion. Wells Fargo & Co had a return on equity of 13.74% and a net margin of 23.26%. Wells Fargo & Co’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, analysts expect that Wells Fargo & Co will post 4.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a $0.51 dividend. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.04 annualized dividend and a yield of 4.19%. Wells Fargo & Co’s payout ratio is currently 46.58%.

Wells Fargo & Co announced that its Board of Directors has approved a stock buyback plan on Thursday, June 27th that authorizes the company to repurchase $23.10 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

WFC has been the topic of a number of research analyst reports. Wolfe Research lowered Wells Fargo & Co from a “peer perform” rating to an “underperform” rating in a report on Wednesday, July 10th. Atlantic Securities lowered Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $42.00 target price on the stock. in a report on Tuesday, June 11th. Odeon Capital Group raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Morgan Stanley lowered their target price on Wells Fargo & Co from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 17th. Finally, UBS Group lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating and lowered their target price for the company from $51.00 to $49.00 in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $50.74.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

See Also: Earnings Per Share (EPS)

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

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