Wells Fargo & Company (WFC) Shares Bought by Carleon Capital Partners LLC

Carleon Capital Partners LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 81.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,036 shares of the financial services provider’s stock after acquiring an additional 23,796 shares during the period. Wells Fargo & comprises about 1.1% of Carleon Capital Partners LLC’s portfolio, making the stock its 23rd largest position. Carleon Capital Partners LLC’s holdings in Wells Fargo & were worth $2,954,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Nicolet Bankshares Inc. raised its holdings in shares of Wells Fargo & by 33.5% during the second quarter. Nicolet Bankshares Inc. now owns 53,719 shares of the financial services provider’s stock worth $2,977,000 after acquiring an additional 13,486 shares during the period. Cardinal Capital Management raised its holdings in shares of Wells Fargo & by 4.5% during the second quarter. Cardinal Capital Management now owns 80,252 shares of the financial services provider’s stock worth $4,447,000 after acquiring an additional 3,433 shares during the period. Pillar Pacific Capital Management LLC raised its holdings in shares of Wells Fargo & by 2.1% during the second quarter. Pillar Pacific Capital Management LLC now owns 130,854 shares of the financial services provider’s stock worth $7,251,000 after acquiring an additional 2,690 shares during the period. Channing Capital Management LLC raised its holdings in shares of Wells Fargo & by 5.4% during the second quarter. Channing Capital Management LLC now owns 146,957 shares of the financial services provider’s stock worth $8,143,000 after acquiring an additional 7,543 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Wells Fargo & by 8.0% during the second quarter. Parkside Financial Bank & Trust now owns 12,144 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 897 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

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A number of equities research analysts recently commented on the stock. Robert W. Baird restated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & in a report on Friday. Vertical Group began coverage on shares of Wells Fargo & in a research report on Friday. They issued a “sell” rating for the company. UBS AG set a $57.00 target price on shares of Wells Fargo & and gave the company a “neutral” rating in a research report on Friday. Vetr downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and set a $53.07 target price for the company. in a research report on Monday, October 2nd. Finally, Instinet reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $64.00) on shares of Wells Fargo & in a research report on Saturday, September 30th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $56.44.

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 stock’s 50 day moving average is $52.59 and its 200-day moving average is $53.59. The firm has a market cap of $275.90 billion, a PE ratio of 13.69 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Analysts expect that Wells Fargo & Company will post $4.14 earnings per share for the current year.

Wells Fargo & declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $11.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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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