National Asset Management Inc. Sells 4,094 Shares of Wells Fargo & Company (WFC)

National Asset Management Inc. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,710 shares of the financial services provider’s stock after selling 4,094 shares during the period. National Asset Management Inc.’s holdings in Wells Fargo & were worth $3,716,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Alexandria Capital LLC raised its holdings in Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 6 shares during the last quarter. Winch Advisory Services LLC raised its holdings in Wells Fargo & by 0.7% in the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 18 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in Wells Fargo & by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 24 shares during the last quarter. Keystone Financial Planning Inc. raised its holdings in Wells Fargo & by 0.6% in the 1st quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 39 shares during the last quarter. Finally, Advantage Investment Management LLC raised its holdings in Wells Fargo & by 0.3% in the 1st quarter. Advantage Investment Management LLC now owns 19,991 shares of the financial services provider’s stock valued at $1,113,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 75.19% of the company’s stock.

WFC has been the subject of a number of recent research reports. Instinet reiterated a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & in a report on Wednesday, July 12th. Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price objective for the company in a report on Monday, June 26th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price objective on shares of Wells Fargo & in a report on Friday, June 23rd. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & in a report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Wells Fargo & currently has an average rating of “Hold” and a consensus price target of $55.83.

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Wells Fargo & Company (NYSE WFC) traded up 2.10% during midday trading on Monday, hitting $50.62. 6,753,796 shares of the stock traded hands. The company has a market cap of $251.27 billion, a PE ratio of 12.47 and a beta of 0.96. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The company’s 50-day moving average is $52.34 and its 200-day moving average is $54.22.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Zacks’ 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 firm posted $1.01 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post $4.16 EPS for the current fiscal year.

Wells Fargo & declared that its board has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a $0.39 dividend. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.15%. Wells Fargo &’s dividend payout ratio (DPR) is currently 38.42%.

About Wells Fargo &

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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