Wells Fargo & Co (NYSE:WFC) Stake Raised by Logan Capital Management Inc.

Logan Capital Management Inc. grew its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 14.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 364,914 shares of the financial services provider’s stock after buying an additional 44,942 shares during the period. Logan Capital Management Inc.’s holdings in Wells Fargo & Co were worth $17,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CRA Financial Services LLC raised its holdings in shares of Wells Fargo & Co by 4.1% during the second quarter. CRA Financial Services LLC now owns 7,059 shares of the financial services provider’s stock valued at $334,000 after buying an additional 278 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Wells Fargo & Co by 199.3% during the second quarter. Lindbrook Capital LLC now owns 12,901 shares of the financial services provider’s stock valued at $610,000 after buying an additional 8,590 shares during the last quarter. Cypress Wealth Services LLC raised its holdings in shares of Wells Fargo & Co by 29.3% during the second quarter. Cypress Wealth Services LLC now owns 15,803 shares of the financial services provider’s stock valued at $748,000 after buying an additional 3,577 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Wells Fargo & Co by 0.9% during the second quarter. Daiwa Securities Group Inc. now owns 185,705 shares of the financial services provider’s stock valued at $8,787,000 after buying an additional 1,576 shares during the last quarter. Finally, BB&T Corp raised its holdings in shares of Wells Fargo & Co by 1.4% during the second quarter. BB&T Corp now owns 335,204 shares of the financial services provider’s stock valued at $15,861,000 after buying an additional 4,576 shares during the last quarter. 75.37% of the stock is currently owned by institutional investors.

WFC has been the topic of a number of recent analyst reports. UBS Group cut their price target on Wells Fargo & Co from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Macquarie cut Wells Fargo & Co from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $54.00 to $47.00 in a report on Wednesday, July 17th. Atlantic Securities cut Wells Fargo & Co from a “neutral” rating to an “underweight” rating and set a $42.00 target price on the stock. in a report on Tuesday, June 11th. Odeon Capital Group raised Wells Fargo & Co from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Citigroup cut Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $51.00 in a report on Friday, July 12th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $51.12.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $46.51, for a total value of $1,316,419.04. Following the transaction, the insider now owns 3,066 shares of the company’s stock, valued at $142,599.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.

Shares of NYSE:WFC opened at $47.44 on Friday. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53. The company has a market capitalization of $211.50 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.92 and a beta of 1.08. The business’s 50 day moving average price is $47.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.87 and a current ratio of 0.89.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.14. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.95 billion. Wells Fargo & Co had a return on equity of 13.74% and a net margin of 23.26%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, equities analysts predict that Wells Fargo & Co will post 4.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be issued a $0.51 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.04 annualized dividend and a dividend yield of 4.30%. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.45. Wells Fargo & Co’s dividend payout ratio is currently 41.10%.

Wells Fargo & Co declared that its board has initiated a stock buyback plan on Thursday, June 27th that authorizes the company to repurchase $23.10 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 11.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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