First National Bank Sioux Falls Sells 2,500 Shares of Wells Fargo & Company (NYSE:WFC)

First National Bank Sioux Falls cut its stake in Wells Fargo & Company (NYSE:WFC) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,957 shares of the financial services provider’s stock after selling 2,500 shares during the period. First National Bank Sioux Falls’ holdings in Wells Fargo & Company were worth $785,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WFC. Stoneridge Investment Partners LLC lifted its position in shares of Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 54,262 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares during the period. Synovus Financial Corp raised its holdings in shares of Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after acquiring an additional 46,525 shares during the period. Trust Point Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $2,499,000. Finally, Golden State Equity Partners raised its holdings in shares of Wells Fargo & Company by 98.8% during the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after acquiring an additional 30,316 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC traded down $0.15 during trading hours on Tuesday, reaching $60.95. 21,678,006 shares of the company traded hands, compared to its average volume of 19,048,328. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $215.79 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $61.76. The stock has a fifty day simple moving average of $56.12 and a 200 day simple moving average of $49.12.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WFC has been the topic of several research analyst reports. Robert W. Baird restated a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $58.85.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.