Buffington Mohr McNeal reduced its position in shares of Wells Fargo & Co. (NYSE:WFC) by 10.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,066 shares of the financial services provider’s stock after selling 715 shares during the period. Buffington Mohr McNeal’s holdings in Wells Fargo & Co. were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WFC. 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 valued at $152,000 after buying an additional 303 shares during the last quarter. Tradewinds Capital Management LLC raised its position in shares of Wells Fargo & Co. by 4.7% in the second quarter. Tradewinds Capital Management LLC now owns 3,253 shares of the financial services provider’s stock valued at $154,000 after buying an additional 147 shares during the last quarter. Gemmer Asset Management LLC raised its position in shares of Wells Fargo & Co. by 6.7% in the second quarter. Gemmer Asset Management LLC now owns 3,735 shares of the financial services provider’s stock valued at $177,000 after buying an additional 234 shares during the last quarter. Ironwood Financial llc bought a new position in shares of Wells Fargo & Co. during the first quarter valued at $182,000. Finally, Cypress Capital Management LLC WY bought a new position in shares of Wells Fargo & Co. during the second quarter valued at $190,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Shares of Wells Fargo & Co. (NYSE:WFC) traded down 1.56% during mid-day trading on Friday, reaching $45.43. 51,871,380 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $48.71 and a 200 day moving average of $48.74. Wells Fargo & Co. has a one year low of $44.50 and a one year high of $56.34. The firm has a market capitalization of $229.22 billion, a P/E ratio of 11.22 and a beta of 0.90.

Wells Fargo & Co. (NYSE:WFC) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. The business earned $22.20 billion during the quarter. Wells Fargo & Co. had a return on equity of 12.95% and a net margin of 24.33%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. On average, analysts forecast that Wells Fargo & Co. will post $4.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.35%. The ex-dividend date was Wednesday, August 3rd. Wells Fargo & Co.’s dividend payout ratio is currently 37.25%.

WFC has been the topic of several research analyst reports. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Saturday, June 4th. FBR & Co reissued a “buy” rating and issued a $63.00 price objective on shares of Wells Fargo & Co. in a research report on Wednesday, June 1st. Royal Bank Of Canada reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Drexel Hamilton reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Finally, Evercore ISI reissued a “buy” rating and issued a $53.00 price objective on shares of Wells Fargo & Co. in a research report on Thursday, May 26th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $52.29.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the completion of the sale, the chief operating officer now owns 650,815 shares of the company’s stock, valued at $31,837,869.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

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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