Fort Point Capital Partners LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 13.1% during the first quarter, Holdings Channel reports. The firm owned 4,977 shares of the financial services provider’s stock after buying an additional 575 shares during the period. Fort Point Capital Partners LLC’s holdings in Wells Fargo & were worth $277,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alexandria Capital LLC boosted its stake in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the period. Brick & Kyle Associates boosted its stake in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Wells Fargo & during the first quarter valued at approximately $124,000. Gradient Investments LLC boosted its stake in shares of Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock valued at $139,000 after buying an additional 921 shares during the period. Finally, Winch Advisory Services LLC boosted its stake in shares of Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after buying an additional 18 shares during the period. 75.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Company (NYSE WFC) traded down 0.02% on Friday, hitting $51.94. 14,714,450 shares of the company’s stock were exchanged. The firm has a market cap of $257.83 billion, a P/E ratio of 12.79 and a beta of 0.95. The stock’s 50 day moving average is $54.25 and its 200 day moving average is $55.00. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $59.99.

Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, equities analysts predict that Wells Fargo & Company will post $4.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.39 dividend. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.00%. Wells Fargo &’s dividend payout ratio (DPR) is presently 38.42%.

Wells Fargo & declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $11.50 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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Several equities research analysts have commented on WFC shares. Instinet cut their price target on shares of Wells Fargo & from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Vetr raised shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $57.21 price target on the stock in a research report on Wednesday, May 10th. Keefe, Bruyette & Woods set a $62.00 price target on shares of Wells Fargo & and gave the stock a “buy” rating in a research report on Friday, May 19th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price target on shares of Wells Fargo & in a research report on Friday, July 28th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.87.

In related news, insider Hope A. Hardison sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total transaction of $1,041,400.00. Following the completion of the transaction, the insider now owns 109 shares of the company’s stock, valued at $5,675.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Petros G. Pelos sold 24,708 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $54.07, for a total transaction of $1,335,961.56. The disclosure for this sale can be found here. Insiders sold 131,278 shares of company stock valued at $6,940,120 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

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.

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

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