Wells Fargo & Company (WFC) Shares Sold by Thompson Rubinstein Investment Management Inc. OR

Thompson Rubinstein Investment Management Inc. OR trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,687 shares of the financial services provider’s stock after selling 1,250 shares during the quarter. Thompson Rubinstein Investment Management Inc. OR’s holdings in Wells Fargo & were worth $2,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of WFC. Boston Partners lifted its stake in Wells Fargo & by 50.0% during the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after buying an additional 2,648,763 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Wells Fargo & by 83.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after buying an additional 3,637,100 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in Wells Fargo & by 1.6% during the first quarter. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider’s stock valued at $150,186,000 after buying an additional 41,531 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Wells Fargo & by 3.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 782,897 shares of the financial services provider’s stock valued at $43,576,000 after buying an additional 22,725 shares in the last quarter. Finally, Adviser Investments LLC purchased a new stake in Wells Fargo & during the first quarter valued at about $5,588,000. 75.19% of the stock is owned by institutional investors.

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A number of research firms have commented on WFC. Piper Jaffray Companies reaffirmed 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. Vetr lowered shares of Wells Fargo & from a “buy” rating to a “sell” rating and set a $48.62 price objective for the company. in a research note on Wednesday. BidaskClub raised shares of Wells Fargo & from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. UBS AG reaffirmed a “neutral” rating and set a $56.00 price objective (down from $59.00) on shares of Wells Fargo & in a research note on Friday. Finally, BMO Capital Markets raised shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $50.00 to $47.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $55.85.

Shares of Wells Fargo & Company (NYSE WFC) traded up 0.72% during midday trading on Friday, hitting $51.66. 28,494,345 shares of the stock traded hands. The firm’s 50 day moving average price is $51.92 and its 200 day moving average price is $54.04. The company has a market capitalization of $256.44 billion, a PE ratio of 12.72 and a beta of 0.96. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99.

Wells Fargo & (NYSE:WFC) last posted its earnings results 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. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Analysts expect that Wells Fargo & Company will post $4.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was 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 dividend yield of 3.02%. Wells Fargo &’s payout ratio is presently 38.42%.

Wells Fargo & declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $11.50 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are 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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