Wells Fargo & Company (WFC) Shares Bought by Trust Co
Trust Co boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,799 shares of the financial services provider’s stock after buying an additional 255 shares during the period. Wells Fargo & accounts for approximately 2.1% of Trust Co’s portfolio, making the stock its 18th biggest holding. Trust Co’s holdings in Wells Fargo & were worth $4,497,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amarillo National Bank grew its stake in shares of Wells Fargo & by 0.7% in the 1st quarter. Amarillo National Bank now owns 11,950 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 80 shares during the last quarter. Inverness Counsel LLC NY grew its stake in shares of Wells Fargo & by 5.5% in the 1st quarter. Inverness Counsel LLC NY now owns 443,155 shares of the financial services provider’s stock valued at $23,540,000 after purchasing an additional 23,070 shares during the last quarter. First Command Financial Services Inc. grew its stake in shares of Wells Fargo & by 18.4% in the 1st quarter. First Command Financial Services Inc. now owns 4,688 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 727 shares during the last quarter. Private Bank & Trust Co. grew its stake in shares of Wells Fargo & by 4.8% in the 1st quarter. Private Bank & Trust Co. now owns 32,105 shares of the financial services provider’s stock valued at $1,788,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in shares of Wells Fargo & in the first quarter valued at approximately $390,000. 75.19% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the company. UBS AG restated a “neutral” rating and issued a $56.00 price target (down from $59.00) on shares of Wells Fargo & in a research note on Friday. Vetr downgraded Wells Fargo & from a “buy” rating to a “sell” rating and set a $48.62 price target on the stock. in a research note on Wednesday. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 price target (down from $52.00) on shares of Wells Fargo & in a research note on Wednesday. Robert W. Baird restated a “buy” rating and issued a $58.00 price target on shares of Wells Fargo & in a research note on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods set a $61.00 price target on Wells Fargo & and gave the company a “buy” rating in a research note on Friday, August 25th. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $55.47.
Shares of Wells Fargo & Company (WFC) traded up 0.72% during mid-day trading on Friday, hitting $51.66. The stock had a trading volume of 28,494,345 shares. The firm has a 50 day moving average of $51.92 and a 200 day moving average of $54.04. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The stock has a market cap of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. On average, analysts forecast that Wells Fargo & Company will post $4.16 earnings per share for the current year.
Wells Fargo & declared that its board has initiated a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were paid a $0.39 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s payout ratio is 38.42%.
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Wells Fargo & 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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