SFE Investment Counsel lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 13.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,064 shares of the financial services provider’s stock after selling 18,630 shares during the quarter. Wells Fargo & comprises 2.7% of SFE Investment Counsel’s portfolio, making the stock its 8th largest position. SFE Investment Counsel’s holdings in Wells Fargo & were worth $6,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harris Associates L P raised its stake in Wells Fargo & by 1.2% during the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after buying an additional 286,710 shares in the last quarter. Boston Partners raised its stake in Wells Fargo & by 140.1% during the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after buying an additional 11,139,780 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Wells Fargo & by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock valued at $826,679,000 after buying an additional 607,497 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Wells Fargo & by 0.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock valued at $746,726,000 after buying an additional 93,236 shares in the last quarter. Finally, Longview Partners Guernsey LTD raised its stake in Wells Fargo & by 5.3% during the second quarter. Longview Partners Guernsey LTD now owns 12,544,667 shares of the financial services provider’s stock valued at $695,100,000 after buying an additional 636,994 shares in the last quarter. Hedge funds and other institutional investors own 75.00% of the company’s stock.

Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s payout ratio is 40.31%.

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Several brokerages have issued reports on WFC. Vetr cut Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 price objective on the stock. in a research note on Thursday. Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 price objective on shares of Wells Fargo & in a research note on Monday, October 16th. UBS AG set a $55.00 price objective on Wells Fargo & and gave the company a “hold” rating in a research note on Monday, October 16th. BMO Capital Markets upped their price objective on Wells Fargo & from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Piper Jaffray Companies set a $50.00 price objective on Wells Fargo & and gave the company a “hold” rating in a research note on Sunday, October 15th. Seven investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $57.20.

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.

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

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