Pillar Pacific Capital Management LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,854 shares of the financial services provider’s stock after purchasing an additional 2,690 shares during the period. Wells Fargo & accounts for about 1.0% of Pillar Pacific Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Pillar Pacific Capital Management LLC’s holdings in Wells Fargo & were worth $7,251,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Delphi Private Advisors LLC increased its holdings in shares of Wells Fargo & by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares in the last quarter. Alexandria Capital LLC increased its holdings 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 in the last quarter. Brick & Kyle Associates increased its holdings 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 in the last quarter. Clear Investment Research LLC bought a new position in shares of Wells Fargo & in the second quarter valued at $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Wells Fargo & in the first quarter valued at $124,000. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Company (WFC) opened at 55.58 on Monday. Wells Fargo & Company has a 1-year low of $44.28 and a 1-year high of $59.99. 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 company has a 50 day moving average of $52.59 and a 200 day moving average of $53.59.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The business 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 firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post $4.14 earnings per share for the current fiscal year.

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

WFC has been the topic of several research reports. Keefe, Bruyette & Woods set a $61.00 price target on Wells Fargo & and gave the company a “buy” rating in a report on Friday, August 25th. UBS AG set a $57.00 price target on Wells Fargo & and gave the company a “neutral” rating in a report on Friday. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Finally, Robert W. Baird reiterated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $56.44.

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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.

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

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