Dumont & Blake Investment Advisors LLC Purchases 177 Shares of Wells Fargo & Company (WFC)

Dumont & Blake Investment Advisors LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,030 shares of the financial services provider’s stock after acquiring an additional 177 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Wells Fargo & were worth $1,393,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & by 83.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock worth $443,728,000 after acquiring an additional 3,637,100 shares during the period. Boston Partners increased its position in shares of Wells Fargo & by 50.0% during the first quarter. Boston Partners now owns 7,948,841 shares of the financial services provider’s stock worth $442,432,000 after acquiring an additional 2,648,763 shares during the period. First Trust Advisors LP increased its position in shares of Wells Fargo & by 76.2% during the first quarter. First Trust Advisors LP now owns 1,581,163 shares of the financial services provider’s stock worth $88,008,000 after acquiring an additional 683,830 shares during the period. APG Asset Management N.V. increased its position in shares of Wells Fargo & by 10.1% during the first quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock worth $384,376,000 after acquiring an additional 635,436 shares during the period. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Wells Fargo & by 774.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 634,208 shares of the financial services provider’s stock worth $35,301,000 after acquiring an additional 561,693 shares during the period. 75.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Company (WFC) traded up 0.72% during mid-day trading on Friday, reaching $51.66. 28,494,345 shares of the company were exchanged. The firm has a market capitalization of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96. Wells Fargo & Company has a 12 month low of $43.55 and a 12 month high of $59.99. The company’s 50-day moving average is $51.92 and its 200 day moving average is $54.04.

Wells Fargo & (NYSE:WFC) last released its quarterly earnings data 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. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business had revenue of $22.20 billion for the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter in the previous year, the business posted $1.01 EPS. Wells Fargo &’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post $4.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were given a dividend of $0.39 per share. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.02%. Wells Fargo &’s payout ratio is 38.42%.

Wells Fargo & announced that its board has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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WFC has been the topic of several research reports. Vetr upgraded shares of Wells Fargo & to a “strong-buy” rating in a research note on Thursday, September 7th. Berenberg Bank downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and boosted their target price for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Keefe, Bruyette & Woods set a $62.00 target price on shares of Wells Fargo & and gave the company a “buy” rating in a research report on Friday, May 19th. Finally, Zacks Investment Research downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Wells Fargo & has a consensus rating of “Hold” and an average target price of $55.47.

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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