Wells Fargo & Company (WFC) Shares Sold by PHH Investments Ltd.

PHH Investments Ltd. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,990 shares of the financial services provider’s stock after selling 699 shares during the quarter. Wells Fargo & makes up approximately 0.6% of PHH Investments Ltd.’s holdings, making the stock its 15th biggest holding. PHH Investments Ltd.’s holdings in Wells Fargo & were worth $1,883,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Harris Associates L P grew its holdings in 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 worth $1,324,492,000 after acquiring an additional 286,710 shares during the last quarter. Boston Partners boosted its stake in shares of Wells Fargo & by 140.1% in 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 purchasing an additional 11,139,780 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Wells Fargo & by 4.2% in 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 purchasing an additional 607,497 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Wells Fargo & by 0.7% in 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 purchasing an additional 93,236 shares during the last quarter. Finally, Longview Partners Guernsey LTD boosted its stake in shares of Wells Fargo & by 5.3% in 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 purchasing an additional 636,994 shares during the last quarter. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

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Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Wells Fargo &’s revenue for the quarter was down 1.8% on a year-over-year basis.

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

Several brokerages have recently issued reports on WFC. Vetr lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 target price on the stock. in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & in a research note on Monday, October 16th. UBS AG set a $55.00 target price on shares of Wells Fargo & and gave the company a “hold” rating in a research note on Monday, October 16th. BMO Capital Markets raised their target price on shares of Wells Fargo & from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Piper Jaffray Companies set a $50.00 target price on shares of Wells Fargo & and gave the company a “hold” rating in a research note on Sunday, October 15th. Seven investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $57.20.

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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