Palouse Capital Management Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,701 shares of the financial services provider’s stock after selling 985 shares during the quarter. Wells Fargo & comprises 2.9% of Palouse Capital Management Inc.’s holdings, making the stock its 4th largest position. Palouse Capital Management Inc.’s holdings in Wells Fargo & were worth $7,962,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Alexandria Capital LLC raised its position in Wells Fargo & by 0.3% during the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 6 shares in the last quarter. Winch Advisory Services LLC raised its position in Wells Fargo & by 0.7% during the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 18 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in Wells Fargo & by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 24 shares in the last quarter. Keystone Financial Planning Inc. raised its position in Wells Fargo & by 0.6% during the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 39 shares in the last quarter. Finally, Country Club Trust Company n.a. raised its position in Wells Fargo & by 0.3% during the second quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock valued at $927,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Wells Fargo & Company (WFC) opened at 55.58 on Monday. The firm has a market cap of $275.90 billion, a price-to-earnings ratio of 13.69 and a beta of 0.97. The firm’s 50-day moving average price is $52.59 and its 200-day moving average price is $53.59. Wells Fargo & Company has a 1-year low of $44.28 and a 1-year high of $59.99.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the 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 the consensus estimate of $22.23 billion. During the same period last year, the business posted $1.01 EPS. Wells Fargo &’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Wells Fargo & Company will post $4.14 earnings per share for the current year.

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

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WFC has been the subject of several recent research reports. UBS AG reiterated a “neutral” rating and set a $56.00 price target (down from $59.00) on shares of Wells Fargo & in a research report on Friday, September 15th. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 price target (down from $52.00) on shares of Wells Fargo & in a research report on Wednesday, September 13th. Berenberg Bank cut Wells Fargo & from a “hold” rating to a “sell” rating and lifted their price target for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Robert W. Baird reiterated a “buy” rating and set a $58.00 price target on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reiterated an “overweight” rating on shares of Wells Fargo & in a research report on Thursday, July 13th. Eight equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.44.

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.

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

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