Kelman Lazarov Inc. decreased its position in Wells Fargo & Co (NYSE:WFC) by 49.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,165 shares of the financial services provider’s stock after selling 10,886 shares during the period. Kelman Lazarov Inc.’s holdings in Wells Fargo & Co were worth $528,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brand Asset Management Group Inc. lifted its holdings in Wells Fargo & Co by 96.8% in the first quarter. Brand Asset Management Group Inc. now owns 492 shares of the financial services provider’s stock valued at $31,000 after buying an additional 242 shares during the period. Orrstown Financial Services Inc. raised its holdings in shares of Wells Fargo & Co by 125.9% during the first quarter. Orrstown Financial Services Inc. now owns 515 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 287 shares during the period. Evolution Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Co during the second quarter valued at about $25,000. Horan Capital Advisors LLC. acquired a new position in shares of Wells Fargo & Co during the first quarter valued at about $27,000. Finally, Nalls Sherbakoff Group LLC acquired a new position in shares of Wells Fargo & Co during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.37% of the company’s stock.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $46.51, for a total value of $1,316,419.04. Following the completion of the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at approximately $142,599.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.08% of the company’s stock.

WFC has been the topic of several research reports. Raymond James reiterated a “hold” rating on shares of Wells Fargo & Co in a report on Friday, April 12th. BMO Capital Markets dropped their price objective on shares of Wells Fargo & Co to $59.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Zacks Investment Research lowered shares of Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th. Atlantic Securities initiated coverage on shares of Live Nation Entertainment in a report on Tuesday, June 11th. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Citigroup upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Friday, July 12th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.12.

Shares of WFC traded down $0.13 on Monday, reaching $49.17. The company’s stock had a trading volume of 5,136,770 shares, compared to its average volume of 17,745,860. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.36. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $59.53. The firm has a market cap of $221.57 billion, a PE ratio of 11.22, a PEG ratio of 0.96 and a beta of 1.08. The company has a fifty day moving average of $46.67.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.14. Wells Fargo & Co had a net margin of 23.26% and a return on equity of 13.74%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $20.95 billion. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Co will post 4.8 EPS for the current fiscal year.

Wells Fargo & Co declared that its board has authorized a share buyback plan on Thursday, June 27th that authorizes the company to buyback $23.10 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.15%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, August 8th. Wells Fargo & Co’s dividend payout ratio is presently 41.10%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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