Wells Fargo & Company (WFC) Holdings Lowered by Exchange Capital Management Inc.

Exchange Capital Management Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 65.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,556 shares of the financial services provider’s stock after selling 79,436 shares during the period. Exchange Capital Management Inc.’s holdings in Wells Fargo & were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Boston Partners increased its position in shares of Wells Fargo & by 50.0% in the 1st quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & by 83.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares during the last quarter. Kelman Lazarov Inc. increased its position in shares of Wells Fargo & by 6.0% in the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Wells Fargo & by 4.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after purchasing an additional 4,647 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA increased its position in shares of Wells Fargo & by 25.8% in the 2nd quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,307 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 1,500 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Shares of Wells Fargo & Company (WFC) opened at 55.14 on Tuesday. The firm has a market cap of $273.71 billion, a PE ratio of 13.58 and a beta of 0.97. The company’s 50-day moving average is $52.69 and its 200-day moving average is $53.56. Wells Fargo & Company has a 52 week low of $44.28 and a 52 week high of $59.99.

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

Wells Fargo & declared that its board has approved a stock repurchase 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

WARNING: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/10/wells-fargo-company-wfc-holdings-lowered-by-exchange-capital-management-inc.html.

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & and gave the company a “buy” rating in a research report on Friday, August 25th. UBS AG set a $57.00 price objective on shares of Wells Fargo & and gave the company a “neutral” rating in a research report on Friday.

Other large investors have also recently made changes to their positions in the company. Boston Partners increased its position in shares of Wells Fargo & by 50.0% in the 1st quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock valued at $442,432,000 after purchasing an additional 2,648,763 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & by 83.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after purchasing an additional 3,637,100 shares during the last quarter. Kelman Lazarov Inc. increased its position in shares of Wells Fargo & by 6.0% in the 2nd quarter. Kelman Lazarov Inc. now owns 64,172 shares of the financial services provider’s stock valued at $3,556,000 after purchasing an additional 3,612 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Wells Fargo & by 4.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 103,269 shares of the financial services provider’s stock valued at $5,722,000 after purchasing an additional 4,647 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA increased its position in shares of Wells Fargo & by 25.8% in the 2nd quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,307 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 1,500 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Shares of Wells Fargo & Company (WFC) opened at 55.14 on Tuesday. The firm has a market cap of $273.71 billion, a PE ratio of 13.58 and a beta of 0.97. The company’s 50-day moving average is $52.69 and its 200-day moving average is $53.56. Wells Fargo & Company has a 52 week low of $44.28 and a 52 week high of $59.99.

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

Wells Fargo & declared that its board has approved a stock repurchase 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

WARNING: This report was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://ledgergazette.com/2017/10/10/wells-fargo-company-wfc-holdings-lowered-by-exchange-capital-management-inc.html.

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & and gave the company a “buy” rating in a research report on Friday, August 25th. UBS AG set a $57.00 price objective on shares of Wells Fargo & and gave the company a “neutral” rating in a research report on Friday. Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Finally, Robert W. Baird reissued a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.56.

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.

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

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