First National Bank Sioux Falls Sells 506 Shares of Wells Fargo & Co (NYSE:WFC)

First National Bank Sioux Falls reduced its holdings in Wells Fargo & Co (NYSE:WFC) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,273 shares of the financial services provider’s stock after selling 506 shares during the quarter. Wells Fargo & Co comprises 2.7% of First National Bank Sioux Falls’ portfolio, making the stock its 10th biggest holding. First National Bank Sioux Falls’ holdings in Wells Fargo & Co were worth $821,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Coastal Capital Group Inc. acquired a new stake in shares of Wells Fargo & Co in the second quarter valued at about $78,000. Little House Capital LLC lifted its stake in shares of Wells Fargo & Co by 372.8% in the second quarter. Little House Capital LLC now owns 149,639 shares of the financial services provider’s stock valued at $7,081,000 after buying an additional 117,987 shares during the period. Cibc Bank USA lifted its stake in shares of Wells Fargo & Co by 15.4% in the second quarter. Cibc Bank USA now owns 28,181 shares of the financial services provider’s stock valued at $1,334,000 after buying an additional 3,756 shares during the period. Ballentine Partners LLC lifted its stake in shares of Wells Fargo & Co by 16.3% in the second quarter. Ballentine Partners LLC now owns 22,787 shares of the financial services provider’s stock valued at $1,078,000 after buying an additional 3,193 shares during the period. Finally, Calton & Associates Inc. lifted its stake in shares of Wells Fargo & Co by 67.8% in the second quarter. Calton & Associates Inc. now owns 10,772 shares of the financial services provider’s stock valued at $510,000 after buying an additional 4,354 shares during the period. 75.25% of the stock is currently owned by institutional investors.

NYSE WFC traded up $0.95 on Friday, reaching $49.61. 12,179,314 shares of the stock were exchanged, compared to its average volume of 23,514,482. Wells Fargo & Co has a one year low of $43.02 and a one year high of $55.04. The firm has a market capitalization of $210.70 billion, a PE ratio of 11.33, a PEG ratio of 0.94 and a beta of 1.11. The company’s 50-day simple moving average is $47.90 and its two-hundred day simple moving average is $47.14. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 1.36.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.14. Wells Fargo & Co had a net margin of 23.26% and a return on equity of 13.74%. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $20.95 billion. During the same quarter last year, the business earned $0.98 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Co will post 4.77 earnings per share for the current fiscal year.

Wells Fargo & Co announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 27th that authorizes the company to buyback $23.10 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several research firms recently weighed in on WFC. Morgan Stanley increased their target price on shares of Wells Fargo & Co from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. reduced their target price on shares of Wells Fargo & Co from $48.50 to $47.50 and set an “underweight” rating for the company in a research note on Tuesday, July 9th. Bank of America set a $50.00 target price on shares of Wells Fargo & Co and gave the company a “hold” rating in a research note on Monday, September 30th. Deutsche Bank set a $44.00 target price on shares of Wells Fargo & Co and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group increased their target price on shares of Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $50.48.

Wells Fargo & Co Company Profile

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

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