Wells Fargo & Co (WFC) Stake Lessened by First National Bank Sioux Falls

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First National Bank Sioux Falls cut its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 8.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 16,779 shares of the financial services provider’s stock after selling 1,560 shares during the quarter. Wells Fargo & Co comprises 2.8% of First National Bank Sioux Falls’ portfolio, making the stock its 9th largest holding. First National Bank Sioux Falls’ holdings in Wells Fargo & Co were worth $811,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Orrstown Financial Services Inc. boosted its position in shares of Wells Fargo & Co by 125.9% during the first quarter. Orrstown Financial Services Inc. now owns 515 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 287 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Wells Fargo & Co during the first quarter valued at approximately $27,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Wells Fargo & Co during the fourth quarter valued at approximately $32,000. SevenBridge Financial Group LLC boosted its position in shares of Wells Fargo & Co by 500.0% during the fourth quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of Wells Fargo & Co during the first quarter valued at approximately $37,000. 71.12% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Co stock opened at $45.56 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.87 and a current ratio of 0.88. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53. The firm has a market capitalization of $225.99 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.88 and a beta of 1.09.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The business had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. During the same period in the previous year, the company posted $0.96 earnings per share. On average, research analysts predict that Wells Fargo & Co will post 4.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.10%.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $46.51, for a total value of $1,316,419.04. Following the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at $142,599.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Several research firms recently weighed in on WFC. Zacks Investment Research lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Wednesday. Deutsche Bank dropped their price target on Wells Fargo & Co from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday. Morgan Stanley dropped their price target on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Buckingham Research lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating and dropped their price target for the company from $65.00 to $53.00 in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.22.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

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