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Dixon Hubard Feinour & Brown Inc. VA increased its position in Wells Fargo & Company (NYSE:WFC) by 25.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,307 shares of the financial services provider’s stock after buying an additional 1,500 shares during the period. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Wells Fargo & were worth $405,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Rocky Mountain Advisers LLC increased its position in shares of Wells Fargo & by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares during the period. Alexandria Capital LLC increased its position in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the period. Brick & Kyle Associates increased its position in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in Wells Fargo & during the first quarter valued at $124,000. Finally, Gradient Investments LLC increased its stake in Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock valued at $139,000 after buying an additional 921 shares during the last quarter. 75.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Wells Fargo & Company (NYSE WFC) traded down 0.02% on Friday, hitting $51.94. The stock had a trading volume of 14,714,450 shares. The company has a market capitalization of $257.83 billion, a price-to-earnings ratio of 12.79 and a beta of 0.95. The company has a 50-day moving average of $54.25 and a 200 day moving average of $55.00. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $59.99.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $22.23 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post $4.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, August 2nd. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.00%. Wells Fargo &’s payout ratio is currently 38.42%.
Wells Fargo & declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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WFC has been the subject of several research analyst reports. Instinet reduced their price objective on shares of Wells Fargo & from $65.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $57.21 price target on the stock in a research report on Wednesday, May 10th. Keefe, Bruyette & Woods set a $62.00 price objective on Wells Fargo & and gave the stock a “buy” rating in a report on Friday, May 19th. 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 target price on shares of Wells Fargo & in a report on Friday, July 28th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $55.87.
In other news, insider Mary T. Mack sold 38,988 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $52.58, for a total value of $2,049,989.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Loughlin sold 20,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $52.16, for a total value of $1,043,200.00. Following the completion of the sale, the insider now owns 7 shares of the company’s stock, valued at $365.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,278 shares of company stock valued at $6,940,120. Company insiders own 0.22% of the company’s stock.
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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