Wells Fargo & Co (WFC) Position Raised by Tributary Capital Management LLC

Tributary Capital Management LLC boosted its stake in Wells Fargo & Co (NYSE:WFC) by 36.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,200 shares of the financial services provider’s stock after purchasing an additional 3,000 shares during the quarter. Tributary Capital Management LLC’s holdings in Wells Fargo & Co were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Orrstown Financial Services Inc. increased its stake in shares of Wells Fargo & Co by 125.9% in the first quarter. Orrstown Financial Services Inc. now owns 515 shares of the financial services provider’s stock worth $25,000 after buying an additional 287 shares during the period. Nalls Sherbakoff Group LLC purchased a new position in shares of Wells Fargo & Co in the fourth quarter worth $32,000. SevenBridge Financial Group LLC increased its stake in shares of Wells Fargo & Co by 500.0% in the fourth quarter. SevenBridge Financial Group LLC now owns 1,200 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,000 shares during the period. Athena Capital Advisors LLC purchased a new position in shares of Wells Fargo & Co in the fourth quarter worth $42,000. Finally, Mercer Capital Advisers Inc. increased its stake in shares of Wells Fargo & Co by 81.3% in the fourth quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock worth $54,000 after buying an additional 525 shares during the period. 72.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of WFC stock opened at $45.90 on Friday. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53. The firm has a market cap of $223.60 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. The firm had revenue of $21.61 billion for the quarter, compared to analysts’ expectations of $20.89 billion. During the same quarter in the previous year, the business posted $0.96 EPS. As a group, analysts expect that Wells Fargo & Co will post 4.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.10%.

Several research analysts recently commented on WFC shares. Bank of America downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Raymond James reaffirmed a “hold” rating on shares of Wells Fargo & Co in a research note on Friday, April 12th. Barclays decreased their target price on shares of Wells Fargo & Co from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Buckingham Research downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $65.00 to $53.00 in a research note on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus target price of $56.35.

In other news, insider Petros G. Pelos sold 28,304 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the sale, the insider now owns 3,066 shares in the company, valued at approximately $142,599.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

Further Reading: Quiet Period Expirations

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

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