Pekin Singer Strauss Asset Management IL continued to hold its stake in shares of Wells Fargo & Co (NYSE:WFC) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,530 shares of the financial services provider’s stock at the end of the first quarter. Pekin Singer Strauss Asset Management IL’s holdings in Wells Fargo & Co were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WFC. Catawba Capital Management VA boosted its stake in shares of Wells Fargo & Co by 1.3% in the first quarter. Catawba Capital Management VA now owns 103,794 shares of the financial services provider’s stock worth $5,777,000 after buying an additional 1,345 shares during the period. Trust Co raised its position in shares of Wells Fargo & Co by 6.0% in the fourth quarter. Trust Co now owns 80,544 shares of the financial services provider’s stock worth $4,438,000 after buying an additional 4,567 shares in the last quarter. Boltwood Capital Management raised its position in shares of Wells Fargo & Co by 1.8% in the first quarter. Boltwood Capital Management now owns 67,487 shares of the financial services provider’s stock worth $3,756,000 after buying an additional 1,200 shares in the last quarter. Cardinal Capital Management Inc. raised its position in shares of Wells Fargo & Co by 3.6% in the first quarter. Cardinal Capital Management Inc. now owns 256,065 shares of the financial services provider’s stock worth $14,253,000 after buying an additional 8,925 shares in the last quarter. Finally, Hills Bank & Trust Co. raised its position in shares of Wells Fargo & Co by 0.6% in the first quarter. Hills Bank & Trust Co. now owns 91,725 shares of the financial services provider’s stock worth $5,106,000 after buying an additional 572 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Wells Fargo & Co (WFC) traded up 0.29% during mid-day trading on Wednesday, reaching $51.57. 2,366,490 shares of the company’s stock traded hands. The firm has a market cap of $255.99 billion, a price-to-earnings ratio of 12.70 and a beta of 0.95. Wells Fargo & Co has a one year low of $43.55 and a one year high of $59.99. The firm’s 50-day moving average is $53.60 and its 200 day moving average is $54.71.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & Co had a return on equity of 12.20% and a net margin of 26.38%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. Analysts predict that Wells Fargo & Co will post $4.17 earnings per share for the current year.

Wells Fargo & Co declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $11.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a dividend of $0.39 per share. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Wednesday, August 2nd. Wells Fargo & Co’s dividend payout ratio is presently 38.42%.

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A number of equities analysts recently weighed in on the stock. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & Co in a research report on Monday, July 3rd. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Buckingham Research restated a “neutral” rating and set a $62.00 target price (up previously from $60.00) on shares of Wells Fargo & Co in a research report on Monday, July 10th. Vetr lowered shares of Wells Fargo & Co from a “buy” rating to a “hold” rating and set a $57.21 price objective for the company. in a research report on Thursday, May 4th. Finally, Keefe, Bruyette & Woods reiterated an “overweight” rating on shares of Wells Fargo & Co in a research report on Thursday, July 13th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.83.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 24,708 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $54.07, for a total transaction of $1,335,961.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hope A. Hardison sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $52.07, for a total value of $1,041,400.00. Following the transaction, the insider now owns 109 shares of the company’s stock, valued at approximately $5,675.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,278 shares of company stock valued at $6,940,120. 0.22% of the stock is owned by company insiders.

Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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