Winslow Evans & Crocker Inc. increased its position in Wells Fargo & Co. (NYSE:WFC) by 21.4% during the second quarter, Holdings Channel reports. The fund owned 19,632 shares of the financial services provider’s stock after buying an additional 3,465 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Wells Fargo & Co. were worth $929,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Brick & Kyle Associates raised its position in shares of Wells Fargo & Co. by 10.6% in the first quarter. Brick & Kyle Associates now owns 3,153 shares of the financial services provider’s stock worth $152,000 after buying an additional 303 shares during the last quarter. Ironwood Financial llc acquired a new position in shares of Wells Fargo & Co. during the first quarter valued at $182,000. Financial Advisory Group raised its position in shares of Wells Fargo & Co. by 0.5% in the first quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock valued at $206,000 after buying an additional 22 shares in the last quarter. Bollard Group LLC raised its position in shares of Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock valued at $209,000 after buying an additional 33 shares in the last quarter. Finally, Benin Management CORP raised its position in shares of Wells Fargo & Co. by 9.2% in the second quarter. Benin Management CORP now owns 4,771 shares of the financial services provider’s stock valued at $226,000 after buying an additional 400 shares in the last quarter. Institutional investors own 73.98% of the company’s stock.
Wells Fargo & Co. (NYSE:WFC) traded down 0.29% during mid-day trading on Wednesday, hitting $45.32. 21,751,129 shares of the stock were exchanged. The company has a market capitalization of $228.66 billion, a PE ratio of 11.19 and a beta of 0.91. Wells Fargo & Co. has a 52 week low of $43.55 and a 52 week high of $56.34. The stock’s 50-day moving average is $47.02 and its 200 day moving average is $48.13.
Wells Fargo & Co. (NYSE:WFC) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.01. The business earned $22.20 billion during the quarter. Wells Fargo & Co. had a net margin of 24.33% and a return on equity of 12.95%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. On average, analysts anticipate that Wells Fargo & Co. will post $4.02 EPS for the current year.
Several brokerages recently weighed in on WFC. JPMorgan Chase & Co. lowered shares of Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $53.50 to $48.00 in a report on Wednesday, September 21st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $57.00 price objective on shares of Wells Fargo & Co. in a report on Friday, September 9th. Vetr lowered shares of Wells Fargo & Co. from a “strong-buy” rating to a “buy” rating and set a $51.06 price objective on the stock. in a report on Wednesday, July 6th. Raymond James Financial Inc. restated a “market perform” rating on shares of Wells Fargo & Co. in a report on Thursday, July 7th. Finally, Bank of America Corp. set a $50.00 price objective on shares of Wells Fargo & Co. and gave the company a “buy” rating in a report on Monday, September 19th. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.41.
In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $48.92, for a total transaction of $1,002,860.00. Following the completion of the sale, the chief operating officer now owns 650,815 shares in the company, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.
About Wells Fargo & Co.
Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.
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