First PREMIER Bank Sells 5,340 Shares of Wells Fargo & Company (NYSE:WFC)

First PREMIER Bank lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,323 shares of the financial services provider’s stock after selling 5,340 shares during the quarter. First PREMIER Bank’s holdings in Wells Fargo & Company were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Lbmc Investment Advisors LLC boosted its position in Wells Fargo & Company by 3.7% during the first quarter. Lbmc Investment Advisors LLC now owns 6,797 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 241 shares in the last quarter. Washington Capital Management Inc. purchased a new stake in Wells Fargo & Company in the first quarter valued at about $218,000. Abacus Planning Group Inc. purchased a new stake in Wells Fargo & Company in the first quarter valued at about $235,000. Ballentine Partners LLC raised its stake in Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 1,835 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the first quarter valued at about $57,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $1.02 during trading hours on Monday, hitting $59.12. 5,319,337 shares of the company’s stock were exchanged, compared to its average volume of 18,234,158. 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 firm has a market cap of $206.11 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.45 and a beta of 1.17. The firm has a 50 day moving average of $59.54 and a two-hundred day moving average of $54.74. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS 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 during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is 29.23%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WFC. Evercore ISI increased their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Morgan Stanley raised their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Compass Point restated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Fourteen investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Company Profile

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.