Sumitomo Mitsui Financial Group Inc. raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 2,436.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,341 shares of the financial services provider’s stock after acquiring an additional 6,091 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in Wells Fargo & Company were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WFC. Delphi Private Advisors LLC boosted its position in shares of Wells Fargo & Company by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,461 shares during the period. Brick & Kyle Associates boosted its position in shares of Wells Fargo & Company by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the period. Stelac Advisory Services LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter worth about $104,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Wells Fargo & Company by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares during the period. Finally, Clear Investment Research LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter worth about $121,000. 75.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Company (NYSE:WFC) traded down $0.27 during midday trading on Monday, reaching $56.20. The company’s stock had a trading volume of 31,242,400 shares, compared to its average volume of 18,183,006. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $59.99. The firm has a market capitalization of $276,743.47, a PE ratio of 13.57, a P/E/G ratio of 1.35 and a beta of 0.96. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. research analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

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

Several equities research analysts have recently weighed in on WFC shares. Vetr raised Wells Fargo & Company to a “strong-buy” rating in a research report on Thursday, September 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, August 16th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, November 15th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $57.25.

In other news, VP Richard Levy sold 97,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

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Wells Fargo & Company 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 & Company (NYSE:WFC)

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