Wells Fargo & Company (WFC) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,802 shares of the financial services provider’s stock after selling 207 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Wells Fargo & were worth $1,208,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lee Danner & Bass Inc. boosted its position in Wells Fargo & by 9.3% during the second quarter. Lee Danner & Bass Inc. now owns 91,542 shares of the financial services provider’s stock worth $5,072,000 after purchasing an additional 7,792 shares during the period. Grandfield & Dodd LLC boosted its position in Wells Fargo & by 15.0% during the second quarter. Grandfield & Dodd LLC now owns 17,790 shares of the financial services provider’s stock worth $986,000 after purchasing an additional 2,317 shares during the period. Cambiar Investors LLC boosted its position in Wells Fargo & by 0.4% during the second quarter. Cambiar Investors LLC now owns 1,109,309 shares of the financial services provider’s stock worth $61,467,000 after purchasing an additional 4,664 shares during the period. Lyell Wealth Management LP boosted its position in Wells Fargo & by 4.5% during the second quarter. Lyell Wealth Management LP now owns 10,689 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 463 shares during the period. Finally, CAPROCK Group Inc. boosted its position in Wells Fargo & by 43.6% during the second quarter. CAPROCK Group Inc. now owns 26,303 shares of the financial services provider’s stock worth $1,457,000 after purchasing an additional 7,988 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on WFC shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price objective on shares of Wells Fargo & in a research report on Friday, July 28th. Instinet reaffirmed a “buy” rating and set a $64.00 price objective on shares of Wells Fargo & in a research report on Wednesday, July 12th. Vetr raised shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $55.95 price objective for the company in a research report on Monday, June 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price objective on shares of Wells Fargo & in a research report on Friday, June 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $57.19.

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Wells Fargo & Company (NYSE:WFC) opened at 55.61 on Wednesday. Wells Fargo & Company has a 1-year low of $44.28 and a 1-year high of $59.99. The company has a 50-day moving average price of $52.79 and a 200-day moving average price of $53.56. The firm has a market cap of $276.04 billion, a P/E ratio of 13.70 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (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 during the quarter, compared to analysts’ expectations of $22.23 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post $4.14 EPS for the current fiscal year.

Wells Fargo & declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wells Fargo & 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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