Iowa State Bank reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,972 shares of the financial services provider’s stock after selling 1,272 shares during the period. Wells Fargo & makes up approximately 2.9% of Iowa State Bank’s holdings, making the stock its 6th biggest holding. Iowa State Bank’s holdings in Wells Fargo & were worth $5,983,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WFC. Lederer & Associates Investment Counsel CA increased its position in shares of Wells Fargo & by 0.7% during the first quarter. Lederer & Associates Investment Counsel CA now owns 37,200 shares of the financial services provider’s stock worth $2,071,000 after acquiring an additional 255 shares in the last quarter. Hartford Investment Management Co. raised its holdings in shares of Wells Fargo & by 14.9% during the first quarter. Hartford Investment Management Co. now owns 1,322,090 shares of the financial services provider’s stock worth $73,588,000 after acquiring an additional 171,920 shares during the period. Quotient Investors LLC raised its holdings in shares of Wells Fargo & by 3.9% during the first quarter. Quotient Investors LLC now owns 34,655 shares of the financial services provider’s stock worth $1,929,000 after acquiring an additional 1,300 shares during the period. Ledyard National Bank raised its holdings in shares of Wells Fargo & by 2,637.5% during the first quarter. Ledyard National Bank now owns 10,950 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 10,550 shares during the period. Finally, Bollard Group LLC raised its holdings in shares of Wells Fargo & by 12.9% during the first quarter. Bollard Group LLC now owns 36,577 shares of the financial services provider’s stock worth $2,036,000 after acquiring an additional 4,167 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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WFC has been the topic of several recent research reports. Vetr raised Wells Fargo & to a “strong-buy” rating in a research note on Thursday, September 7th. Berenberg Bank lowered Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price target for the company from $35.00 to $45.00 in a report on Friday, July 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Robert W. Baird reaffirmed a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Zacks Investment Research downgraded Wells Fargo & from a “hold” rating to a “sell” rating in a report on Monday, June 19th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $56.61.

Wells Fargo & Company (NYSE WFC) traded up 0.299% during trading on Monday, reaching $55.315. 6,270,929 shares of the company were exchanged. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The firm’s 50 day moving average price is $51.89 and its 200-day moving average price is $53.89. The stock has a market capitalization of $274.58 billion, a price-to-earnings ratio of 13.624 and a beta of 0.97.

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 consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. On average, equities research analysts predict that Wells Fargo & Company will post $4.15 earnings per share for the current year.

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

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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