Wells Fargo & Company (WFC) Stake Lessened by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,370 shares of the financial services provider’s stock after selling 449 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Wells Fargo & were worth $353,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Harris Associates L P boosted its stake in shares of Wells Fargo & by 1.2% during the 1st quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock worth $1,324,492,000 after acquiring an additional 286,710 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Wells Fargo & by 3.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 14,311,805 shares of the financial services provider’s stock worth $796,596,000 after acquiring an additional 423,113 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Wells Fargo & by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock worth $746,726,000 after acquiring an additional 93,236 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Wells Fargo & by 49.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock worth $540,657,000 after acquiring an additional 3,214,592 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Wells Fargo & by 1.6% during the 1st quarter. AQR Capital Management LLC now owns 9,588,696 shares of the financial services provider’s stock worth $533,707,000 after acquiring an additional 149,538 shares in the last quarter. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company (NYSE:WFC) traded up 0.72% during trading on Friday, hitting $51.66. 28,494,345 shares of the company were exchanged. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $59.99. The company has a market capitalization of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96. The company has a 50-day moving average of $51.92 and a 200-day moving average of $54.04.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Analysts forecast that Wells Fargo & Company will post $4.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.02%. 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. Wells Fargo &’s payout ratio is currently 38.42%.

Wells Fargo & declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in 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 usually an indication that the company’s board of directors believes its stock is undervalued.

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Several equities research analysts have recently issued reports on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research reissued a “neutral” rating and set a $62.00 target price (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Finally, Instinet reissued a “buy” rating and set a $64.00 target price on shares of Wells Fargo & in a research note on Wednesday, July 12th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $55.85.

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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