Cape Cod Five Cents Savings Bank Has $321,000 Position in Wells Fargo & Company (NYSE:WFC)

Cape Cod Five Cents Savings Bank cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,801 shares of the financial services provider’s stock after selling 100 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Wells Fargo & were worth $321,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. B & T Capital Management DBA Alpha Capital Management raised its stake in Wells Fargo & by 2.0% in the second quarter. B & T Capital Management DBA Alpha Capital Management now owns 45,154 shares of the financial services provider’s stock valued at $2,502,000 after buying an additional 871 shares in the last quarter. Access Financial Services Inc. increased its stake in Wells Fargo & by 1.9% in the second quarter. Access Financial Services Inc. now owns 26,723 shares of the financial services provider’s stock valued at $1,481,000 after buying an additional 497 shares during the last quarter. CrestPoint Capital Management LLC increased its stake in Wells Fargo & by 0.3% in the second quarter. CrestPoint Capital Management LLC now owns 32,500 shares of the financial services provider’s stock valued at $1,801,000 after buying an additional 100 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Wells Fargo & by 1.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 757,118 shares of the financial services provider’s stock valued at $41,951,000 after buying an additional 7,480 shares during the last quarter. Finally, Vigilant Capital Management LLC increased its stake in Wells Fargo & by 2.5% in the second quarter. Vigilant Capital Management LLC now owns 2,792 shares of the financial services provider’s stock valued at $155,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Wells Fargo & Company (NYSE:WFC) traded down 2.58% on Friday, hitting $53.30. The stock had a trading volume of 32,590,568 shares. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The company has a market cap of $264.73 billion, a P/E ratio of 13.13 and a beta of 0.96. The firm’s 50-day moving average is $54.48 and its 200-day moving average is $55.12.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 return on equity of 12.65% and a net margin of 23.25%. Wells Fargo &’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post $4.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.93%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, August 2nd. Wells Fargo &’s payout ratio is 37.44%.

Wells Fargo & announced that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that permits the company to buyback $11.50 billion in outstanding 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 often a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods raised shares of Wells Fargo & from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $53.00 to $63.00 in a report on Wednesday, April 5th. Jefferies Group LLC reissued a “hold” rating and issued a $62.00 price target on shares of Wells Fargo & in a report on Wednesday, April 5th. Piper Jaffray Companies cut their price target on shares of Wells Fargo & from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, April 18th. Buckingham Research restated a “neutral” rating and issued a $62.00 price objective (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Finally, Instinet lowered their price objective on Wells Fargo & from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $55.96.

In other news, insider David M. Carroll sold 27,582 shares of Wells Fargo & stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $53.28, for a total transaction of $1,469,568.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Petros G. Pelos sold 24,708 shares of Wells Fargo & stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $54.07, for a total value of $1,335,961.56. The disclosure for this sale can be found here. Insiders have sold a total of 131,278 shares of company stock valued at $6,940,120 over the last ninety days. 0.22% of the stock is owned by company insiders.

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.

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

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