Greystone Managed Investments Inc. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,743 shares of the financial services provider’s stock after acquiring an additional 12,040 shares during the period. Greystone Managed Investments Inc.’s holdings in Wells Fargo & were worth $10,015,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Lederer & Associates Investment Counsel CA boosted its holdings in shares of Wells Fargo & by 0.7% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 37,200 shares of the financial services provider’s stock worth $2,071,000 after buying an additional 255 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in shares of Wells Fargo & by 14.9% during the 1st quarter. Hartford Investment Management Co. now owns 1,322,090 shares of the financial services provider’s stock worth $73,588,000 after buying an additional 171,920 shares in the last quarter. Quotient Investors LLC boosted its holdings in shares of Wells Fargo & by 3.9% during the 1st quarter. Quotient Investors LLC now owns 34,655 shares of the financial services provider’s stock worth $1,929,000 after buying an additional 1,300 shares in the last quarter. Ledyard National Bank boosted its holdings in shares of Wells Fargo & by 2,637.5% during the 1st quarter. Ledyard National Bank now owns 10,950 shares of the financial services provider’s stock worth $609,000 after buying an additional 10,550 shares in the last quarter. Finally, Bollard Group LLC boosted its holdings in shares of Wells Fargo & by 12.9% during the 1st quarter. Bollard Group LLC now owns 36,577 shares of the financial services provider’s stock worth $2,036,000 after buying an additional 4,167 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

A number of research firms have issued reports on WFC. Buckingham Research restated a “neutral” rating and set a $62.00 price target (up from $60.00) on shares of Wells Fargo & in a report on Monday, July 10th. Keefe, Bruyette & Woods restated a “buy” rating and set a $62.00 price target on shares of Wells Fargo & in a report on Friday, June 23rd. Instinet restated a “buy” rating and set a $65.00 price target (up from $64.00) on shares of Wells Fargo & in a report on Saturday. Zacks Investment Research cut Wells Fargo & from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Finally, Jefferies Group LLC restated a “hold” rating and set a $62.00 price target on shares of Wells Fargo & in a report on Thursday, June 8th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.61.

Wells Fargo & Company (NYSE:WFC) opened at 55.15 on Friday. The firm has a 50-day moving average price of $51.89 and a 200-day moving average price of $53.88. The company has a market cap of $273.76 billion, a P/E ratio of 13.58 and a beta of 0.96. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $59.99.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post $4.15 EPS for the current fiscal year.

Wells Fargo & declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were paid a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.83%. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s payout ratio is currently 38.42%.

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Wells Fargo & 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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