Toronto Dominion Bank boosted its position in Wells Fargo & Company (NYSE:WFC) by 7.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,775,345 shares of the financial services provider’s stock after purchasing an additional 393,662 shares during the period. Toronto Dominion Bank’s holdings in Wells Fargo & Company were worth $73,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of Nova Scotia lifted its stake in shares of Wells Fargo & Company by 328.3% in the 2nd quarter. Bank of Nova Scotia now owns 5,590,684 shares of the financial services provider’s stock valued at $143,122,000 after purchasing an additional 4,285,323 shares during the period. FIL Ltd grew its position in shares of Wells Fargo & Company by 65.9% during the 2nd quarter. FIL Ltd now owns 9,766,788 shares of the financial services provider’s stock worth $250,030,000 after buying an additional 3,878,204 shares during the period. APG Asset Management N.V. increased its stake in shares of Wells Fargo & Company by 56.9% in the 1st quarter. APG Asset Management N.V. now owns 9,949,691 shares of the financial services provider’s stock valued at $428,169,000 after acquiring an additional 3,606,983 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Wells Fargo & Company by 99.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,574,637 shares of the financial services provider’s stock valued at $167,127,000 after acquiring an additional 3,282,050 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Wells Fargo & Company by 105.3% during the first quarter. Canada Pension Plan Investment Board now owns 6,061,989 shares of the financial services provider’s stock worth $173,979,000 after acquiring an additional 3,108,879 shares in the last quarter. 67.25% of the stock is currently owned by institutional investors and hedge funds.

WFC has been the topic of several research reports. Robert W. Baird upgraded shares of Wells Fargo & Company from a “neutral” rating to an “outperform” rating and set a $35.00 price objective on the stock in a report on Friday, July 10th. JPMorgan Chase & Co. lowered shares of Wells Fargo & Company to a “sell” rating in a report on Wednesday, July 15th. DA Davidson initiated coverage on Wells Fargo & Company in a research note on Thursday, May 28th. They issued a “neutral” rating and a $27.00 price objective for the company. Royal Bank of Canada cut their target price on Wells Fargo & Company from $29.00 to $25.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 15th. Finally, ValuEngine raised Wells Fargo & Company from a “hold” rating to a “buy” rating in a research report on Wednesday, September 2nd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $33.15.

Shares of WFC traded up $0.82 during midday trading on Wednesday, hitting $25.70. 2,533,576 shares of the company traded hands, compared to its average volume of 41,499,492. The stock has a 50-day moving average of $24.56 and a 200-day moving average of $27.41. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo & Company has a one year low of $22.00 and a one year high of $54.75. The firm has a market cap of $102.51 billion, a P/E ratio of 29.53, a PEG ratio of 125.04 and a beta of 1.08.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.50). The firm had revenue of $17.80 billion during the quarter, compared to the consensus estimate of $18.30 billion. Wells Fargo & Company had a net margin of 6.26% and a return on equity of 4.33%. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 0.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, August 6th. Wells Fargo & Company’s dividend payout ratio is 9.13%.

About Wells Fargo & Company

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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