Security National Bank of Sioux City Iowa IA Invests $300,000 in Wells Fargo & Company (NYSE:WFC)

Security National Bank of Sioux City Iowa IA bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,690 shares of the financial services provider’s stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Dodge & Cox grew its position in Wells Fargo & Company by 13.3% in the 4th quarter. Dodge & Cox now owns 148,429,020 shares of the financial services provider’s stock valued at $4,479,588,000 after buying an additional 17,452,785 shares during the last quarter. FMR LLC grew its position in Wells Fargo & Company by 28.7% in the 4th quarter. FMR LLC now owns 133,862,824 shares of the financial services provider’s stock valued at $4,039,980,000 after buying an additional 29,812,530 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Wells Fargo & Company by 8.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 106,531,722 shares of the financial services provider’s stock valued at $3,215,092,000 after buying an additional 8,301,054 shares during the last quarter. Primecap Management Co. CA grew its position in Wells Fargo & Company by 5.3% in the 4th quarter. Primecap Management Co. CA now owns 48,609,110 shares of the financial services provider’s stock valued at $1,467,023,000 after buying an additional 2,460,730 shares during the last quarter. Finally, Sanders Capital LLC grew its position in Wells Fargo & Company by 1.7% in the 1st quarter. Sanders Capital LLC now owns 47,763,085 shares of the financial services provider’s stock valued at $2,030,799,000 after buying an additional 815,990 shares during the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

WFC traded up $0.48 during midday trading on Friday, hitting $45.57. The company’s stock had a trading volume of 436,070 shares, compared to its average volume of 32,304,668. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $188.37 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.28 and a beta of 1.36. The firm has a 50-day simple moving average of $44.71. Wells Fargo & Company has a 52-week low of $20.76 and a 52-week high of $48.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, April 13th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.69 by $0.36. The company had revenue of $18.06 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Wells Fargo & Company had a return on equity of 4.88% and a net margin of 9.42%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 3.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.88%. The ex-dividend date was Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 72.73%.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $40.00 to $43.00 in a research report on Thursday, April 15th. Barclays raised their target price on Wells Fargo & Company from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, April 15th. Evercore ISI raised their target price on Wells Fargo & Company from $38.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. They noted that the move was a valuation call. Jefferies Financial Group raised their target price on Wells Fargo & Company from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, April 9th. Finally, Zacks Investment Research raised Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a report on Friday, April 16th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.61.

Wells Fargo & Company Profile

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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

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