Wells Fargo & Company (WFC) Position Increased by LLBH Private Wealth Management LLC

LLBH Private Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 21.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,040 shares of the financial services provider’s stock after purchasing an additional 1,740 shares during the quarter. LLBH Private Wealth Management LLC’s holdings in Wells Fargo & were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Harris Associates L P boosted its holdings in shares of Wells Fargo & by 1.2% during the 1st quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock valued at $1,324,492,000 after acquiring an additional 286,710 shares during the last quarter. Boston Partners boosted its holdings in shares of Wells Fargo & by 140.1% during the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after acquiring an additional 11,139,780 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Wells Fargo & by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock valued at $826,679,000 after acquiring an additional 607,497 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Wells Fargo & by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock valued at $746,726,000 after acquiring an additional 93,236 shares during the last quarter. Finally, Longview Partners Guernsey LTD boosted its holdings in shares of Wells Fargo & by 5.3% during the 2nd quarter. Longview Partners Guernsey LTD now owns 12,544,667 shares of the financial services provider’s stock valued at $695,100,000 after acquiring an additional 636,994 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors.

Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.

A number of analysts have recently issued reports on WFC shares. Robert W. Baird reaffirmed a “buy” rating and set a $58.00 price target on shares of Wells Fargo & in a report on Tuesday, September 5th. Keefe, Bruyette & Woods set a $61.00 price target on shares of Wells Fargo & and gave the company a “buy” rating in a report on Friday, August 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of Wells Fargo & in a report on Friday, July 28th. Instinet reaffirmed a “buy” rating and set a $64.00 price target on shares of Wells Fargo & in a report on Wednesday, July 12th. Finally, Nomura raised their price target on shares of Wells Fargo & from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Seven research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned 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 target price of $57.20.

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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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