QV Investors Inc. boosted its position in shares of Wells Fargo & Co. (NYSE:WFC) by 57.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,416,755 shares of the financial services provider’s stock after buying an additional 514,410 shares during the period. Wells Fargo & Co. comprises approximately 7.5% of QV Investors Inc.’s portfolio, making the stock its largest position. QV Investors Inc.’s holdings in Wells Fargo & Co. were worth $62,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Annex Advisory Services LLC raised its stake in Wells Fargo & Co. by 0.4% in the second quarter. Annex Advisory Services LLC now owns 6,422 shares of the financial services provider’s stock valued at $304,000 after buying an additional 25 shares during the last quarter. Bollard Group LLC raised its stake in Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock valued at $209,000 after buying an additional 33 shares during the last quarter. Alpha Windward LLC raised its stake in Wells Fargo & Co. by 0.6% in the third quarter. Alpha Windward LLC now owns 6,453 shares of the financial services provider’s stock valued at $286,000 after buying an additional 37 shares during the last quarter. Oakworth Capital Inc. raised its stake in Wells Fargo & Co. by 0.3% in the second quarter. Oakworth Capital Inc. now owns 14,625 shares of the financial services provider’s stock valued at $741,000 after buying an additional 40 shares during the last quarter. Finally, Sharkey Howes & Javer raised its stake in Wells Fargo & Co. by 0.7% in the second quarter. Sharkey Howes & Javer now owns 5,915 shares of the financial services provider’s stock valued at $280,000 after buying an additional 44 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Wells Fargo & Co. (NYSE:WFC) opened at 52.59 on Wednesday. The company has a market capitalization of $264.12 billion, a P/E ratio of 13.05 and a beta of 0.93. Wells Fargo & Co. has a 12-month low of $43.55 and a 12-month high of $56.24. The stock has a 50 day moving average of $47.82 and a 200-day moving average of $47.86.

Wells Fargo & Co. (NYSE:WFC) last released its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The firm had revenue of $22.30 billion for the quarter. Wells Fargo & Co. had a net margin of 23.91% and a return on equity of 12.72%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. Equities research analysts forecast that Wells Fargo & Co. will post $4.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.93%. Wells Fargo & Co.’s payout ratio is currently 37.44%.

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A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $53.50 to $48.00 in a report on Wednesday, September 21st. Macquarie reiterated an “underperform” rating on shares of Wells Fargo & Co. in a report on Tuesday, October 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $57.00 target price on shares of Wells Fargo & Co. in a report on Friday, September 9th. Argus reiterated a “buy” rating on shares of Wells Fargo & Co. in a report on Thursday, October 13th. Finally, Citigroup Inc. lowered shares of Wells Fargo & Co. to an “underperform” rating in a report on Friday, November 18th. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.57.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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