CENTRAL TRUST Co lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,465 shares of the financial services provider’s stock after selling 1,805 shares during the quarter. CENTRAL TRUST Co’s holdings in Wells Fargo & Co were worth $3,062,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in Wells Fargo & Co by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 6 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Wells Fargo & Co by 63.9% during the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $127,000 after buying an additional 891 shares in the last quarter. BKS Advisors LLC bought a new position in shares of Wells Fargo & Co during the 3rd quarter worth approximately $143,000. BDO Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Co in the 2nd quarter worth approximately $151,000. Finally, Winch Advisory Services LLC raised its holdings in shares of Wells Fargo & Co by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 20 shares during the period. 77.39% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Ronald Sargent bought 9,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $55.98 per share, with a total value of $503,820.00. Following the transaction, the director now owns 81 shares in the company, valued at $4,534.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.
A number of equities research analysts have issued reports on WFC shares. Vetr cut shares of Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 target price on the stock. in a report on Monday, January 8th. Sanford C. Bernstein upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $64.00 to $69.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo & Co in a research report on Tuesday, January 16th. Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Wednesday, January 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $59.00 price objective on shares of Wells Fargo & Co in a research note on Thursday, January 4th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $62.90.
Wells Fargo & Co (NYSE:WFC) traded down $0.96 during mid-day trading on Wednesday, hitting $56.60. 7,880,107 shares of the company were exchanged, compared to its average volume of 23,026,107. The stock has a market cap of $282,550.00, a PE ratio of 15.79, a PEG ratio of 1.52 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31.
Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion during the quarter, compared to analysts’ expectations of $22.64 billion. During the same period last year, the firm earned $0.96 earnings per share. Wells Fargo & Co’s quarterly revenue was up 2.2% on a year-over-year basis. equities research analysts predict that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.
Wells Fargo & Co announced that its board has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase 350,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Friday, February 2nd were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 2.76%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 43.21%.
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About Wells Fargo & Co
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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