Davis Selected Advisers boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,966,811 shares of the financial services provider’s stock after buying an additional 472,585 shares during the period. Wells Fargo & Company accounts for about 6.3% of Davis Selected Advisers’ investment portfolio, making the stock its 2nd biggest holding. Davis Selected Advisers owned approximately 0.52% of Wells Fargo & Company worth $1,438,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Rockland Trust Co. lifted its holdings in shares of Wells Fargo & Company by 0.6% during the 2nd quarter. Rockland Trust Co. now owns 316,530 shares of the financial services provider’s stock valued at $17,539,000 after purchasing an additional 1,856 shares during the last quarter. Kelman Lazarov Inc. increased its position in shares of Wells Fargo & Company by 6.0% in the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after acquiring an additional 3,612 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of Wells Fargo & Company by 4.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after acquiring an additional 4,647 shares during the period. Viking Fund Management LLC increased its position in shares of Wells Fargo & Company by 3.7% in the 2nd quarter. Viking Fund Management LLC now owns 56,000 shares of the financial services provider’s stock valued at $3,103,000 after acquiring an additional 2,000 shares during the period. Finally, Eagle Global Advisors LLC increased its position in shares of Wells Fargo & Company by 1.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 119,625 shares of the financial services provider’s stock valued at $6,628,000 after acquiring an additional 2,172 shares during the period. Institutional investors own 75.78% of the company’s stock.

In other news, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $56.47, for a total transaction of $5,477,590.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were 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. 0.22% of the stock is currently owned by company insiders.

Shares of Wells Fargo & Company (NYSE WFC) traded down $0.27 on Friday, reaching $56.20. The company’s stock had a trading volume of 31,242,318 shares, compared to its average volume of 17,043,476. The firm has a market cap of $276,743.50, a P/E 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 has a 12 month low of $49.27 and a 12 month high of $59.99.

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

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were given 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 dividend payout ratio is currently 40.31%.

Several research firms recently issued reports on WFC. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, November 15th. Vetr raised Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 16th. UBS set a $55.00 target price on Wells Fargo & Company and gave the company a “hold” rating in a research report on Monday, October 16th. Finally, BMO Capital Markets upped their target price on Wells Fargo & Company from $49.00 to $50.00 and gave the company a “market perform” rating in a research report on Monday, October 16th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $57.25.

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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 & Company (NYSE:WFC)

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