Peoples Financial Services CORP. Trims Stake in Wells Fargo & Co (WFC)

Peoples Financial Services CORP. reduced its position in shares of Wells Fargo & Co (NYSE:WFC) by 2.0% during the 1st quarter, Holdings Channel reports. The firm owned 29,384 shares of the financial services provider’s stock after selling 596 shares during the quarter. Peoples Financial Services CORP.’s holdings in Wells Fargo & Co were worth $1,419,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Oakbrook Investments LLC boosted its holdings in Wells Fargo & Co by 1.3% in the first quarter. Oakbrook Investments LLC now owns 175,150 shares of the financial services provider’s stock valued at $8,463,000 after acquiring an additional 2,240 shares during the last quarter. Daiwa SB Investments Ltd. bought a new stake in Wells Fargo & Co in the first quarter valued at approximately $368,000. Telos Capital Management Inc. boosted its holdings in Wells Fargo & Co by 4.3% in the first quarter. Telos Capital Management Inc. now owns 5,624 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 234 shares during the last quarter. RNC Capital Management LLC boosted its holdings in Wells Fargo & Co by 5.3% in the first quarter. RNC Capital Management LLC now owns 848,077 shares of the financial services provider’s stock valued at $40,979,000 after acquiring an additional 42,419 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in Wells Fargo & Co by 9.3% in the first quarter. IFM Investors Pty Ltd now owns 291,558 shares of the financial services provider’s stock valued at $14,088,000 after acquiring an additional 24,820 shares during the last quarter. Institutional investors own 72.01% of the company’s stock.

Shares of WFC opened at $45.70 on Monday. Wells Fargo & Co has a 52-week low of $43.02 and a 52-week high of $59.53. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $222.91 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 0.86 and a beta of 1.09.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The company had revenue of $21.61 billion for the quarter, compared to analyst estimates of $20.89 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. Equities analysts predict that Wells Fargo & Co will post 4.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Co’s payout ratio is 41.10%.

In other news, insider Petros G. Pelos sold 28,304 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the transaction, the insider now directly owns 3,066 shares of the company’s stock, valued at $142,599.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods lowered Wells Fargo & Co from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $58.00 to $50.00 in a research note on Sunday, March 31st. Bank of America lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating in a research note on Monday, April 15th. Deutsche Bank lowered Wells Fargo & Co from a “buy” rating to a “hold” rating and dropped their price target for the company from $56.00 to $54.00 in a research note on Friday, March 29th. BMO Capital Markets dropped their price target on Wells Fargo & Co from $65.00 to $63.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Finally, Raymond James reissued a “hold” rating on shares of Wells Fargo & Co in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $56.35.

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Wells Fargo & Co Profile

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.

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

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