Bush Odonnell Investment Advisors Inc. trimmed its position in Wells Fargo & Co (NYSE:WFC) by 38.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 60,625 shares of the financial services provider’s stock after selling 37,470 shares during the period. Wells Fargo & Co accounts for approximately 4.5% of Bush Odonnell Investment Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. Bush Odonnell Investment Advisors Inc.’s holdings in Wells Fargo & Co were worth $3,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Summit Financial Strategies Inc. bought a new position in Wells Fargo & Co during the 4th quarter worth $209,000. Heritage Way Advisors LLC raised its position in Wells Fargo & Co by 69.2% during the 4th quarter. Heritage Way Advisors LLC now owns 62,100 shares of the financial services provider’s stock worth $3,768,000 after purchasing an additional 25,407 shares during the last quarter. Burt Wealth Advisors raised its position in Wells Fargo & Co by 18.7% during the 4th quarter. Burt Wealth Advisors now owns 6,192 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 977 shares during the last quarter. Stumpf Capital Management LLC bought a new position in Wells Fargo & Co during the 4th quarter worth $74,911,000. Finally, Wealthfront Inc. raised its position in shares of Wells Fargo & Co by 15.7% in the 4th quarter. Wealthfront Inc. now owns 111,797 shares of the financial services provider’s stock worth $6,783,000 after acquiring an additional 15,205 shares in the last quarter. Institutional investors own 76.04% of the company’s stock.

WFC has been the subject of several research analyst reports. UBS Group raised Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday, April 5th. Sandler O’Neill reissued a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & Co in a research report on Friday, April 13th. Vining Sparks reissued a “buy” rating and issued a $65.00 price objective on shares of Wells Fargo & Co in a research report on Friday, April 13th. Vetr raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $54.10 price objective for the company in a research report on Wednesday, April 11th. Finally, Buckingham Research lowered their price objective on Wells Fargo & Co from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 16th. Six analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.82.

Shares of WFC opened at $55.08 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market capitalization of $268.18 billion, a PE ratio of 13.40, a PEG ratio of 1.48 and a beta of 1.12. Wells Fargo & Co has a one year low of $49.27 and a one year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. The company had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $21.74 billion. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS. sell-side analysts forecast that Wells Fargo & Co will post 4.57 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 4th were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.83%. Wells Fargo & Co’s dividend payout ratio is presently 37.96%.

In other Wells Fargo & Co news, EVP Petros G. Pelos sold 25,567 shares of Wells Fargo & Co stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $54.76, for a total transaction of $1,400,048.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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