Cardinal Capital Management Has $4.45 Million Stake in Wells Fargo & Company (WFC)

Cardinal Capital Management lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,252 shares of the financial services provider’s stock after purchasing an additional 3,433 shares during the quarter. Wells Fargo & comprises about 1.5% of Cardinal Capital Management’s investment portfolio, making the stock its 23rd biggest position. Cardinal Capital Management’s holdings in Wells Fargo & were worth $4,447,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Pillar Pacific Capital Management LLC boosted 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 purchasing an additional 2,690 shares during the last quarter. Channing Capital Management LLC boosted 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 purchasing an additional 7,543 shares during the last quarter. Parkside Financial Bank & Trust boosted 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 purchasing an additional 897 shares during the last quarter. Willow Creek Wealth Management Inc. boosted its holdings in shares of Wells Fargo & by 3.7% during the second quarter. Willow Creek Wealth Management Inc. now owns 13,223 shares of the financial services provider’s stock worth $733,000 after purchasing an additional 474 shares during the last quarter. Finally, Probity Advisors Inc. boosted its holdings in shares of Wells Fargo & by 6.1% during the second quarter. Probity Advisors Inc. now owns 7,315 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 418 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

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Several research firms have recently issued reports on WFC. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Buckingham Research reaffirmed a “neutral” rating and issued a $62.00 target price (up from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a research report on Friday. Finally, UBS AG set a $57.00 target price on Wells Fargo & and gave the stock a “neutral” rating in a research report on Friday. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Wells Fargo & has a consensus rating of “Hold” and an average price target of $56.44.

Shares of Wells Fargo & Company (NYSE WFC) opened at 55.58 on Monday. The firm has a market capitalization of $275.90 billion, a P/E ratio of 13.69 and a beta of 0.97. Wells Fargo & Company has a 52 week low of $44.28 and a 52 week high of $59.99. The stock’s 50 day moving average price is $52.59 and its 200 day moving average price is $53.59.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS

Several other hedge funds have also bought and sold shares of the company. Pillar Pacific Capital Management LLC boosted 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 purchasing an additional 2,690 shares during the last quarter. Channing Capital Management LLC boosted 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 purchasing an additional 7,543 shares during the last quarter. Parkside Financial Bank & Trust boosted 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 purchasing an additional 897 shares during the last quarter. Willow Creek Wealth Management Inc. boosted its holdings in shares of Wells Fargo & by 3.7% during the second quarter. Willow Creek Wealth Management Inc. now owns 13,223 shares of the financial services provider’s stock worth $733,000 after purchasing an additional 474 shares during the last quarter. Finally, Probity Advisors Inc. boosted its holdings in shares of Wells Fargo & by 6.1% during the second quarter. Probity Advisors Inc. now owns 7,315 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 418 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & international copyright and trademark law. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/09/cardinal-capital-management-has-4-45-million-stake-in-wells-fargo-company-wfc.html.

Several research firms have recently issued reports on WFC. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Buckingham Research reaffirmed a “neutral” rating and issued a $62.00 target price (up from $60.00) on shares of Wells Fargo & in a research report on Monday, July 10th. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a research report on Friday. Finally, UBS AG set a $57.00 target price on Wells Fargo & and gave the stock a “neutral” rating in a research report on Friday. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Wells Fargo & has a consensus rating of “Hold” and an average price target of $56.44.

Shares of Wells Fargo & Company (NYSE WFC) opened at 55.58 on Monday. The firm has a market capitalization of $275.90 billion, a P/E ratio of 13.69 and a beta of 0.97. Wells Fargo & Company has a 52 week low of $44.28 and a 52 week high of $59.99. The stock’s 50 day moving average price is $52.59 and its 200 day moving average price is $53.59.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. On average, analysts predict that Wells Fargo & Company will post $4.14 EPS for the current fiscal year.

Wells Fargo & declared that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $11.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Wells Fargo &

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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