First National Trust Co. Raises Stake in Wells Fargo & Company (WFC)
First National Trust Co. lifted its position in Wells Fargo & Company (NYSE:WFC) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,742 shares of the financial services provider’s stock after acquiring an additional 9,752 shares during the quarter. Wells Fargo & accounts for approximately 1.0% of First National Trust Co.’s holdings, making the stock its 25th largest position. First National Trust Co.’s holdings in Wells Fargo & were worth $7,798,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Delphi Private Advisors LLC boosted its position in Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the period. Brick & Kyle Associates boosted its position in Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 162 shares during the period. Stelac Advisory Services LLC acquired a new position in Wells Fargo & during the 2nd quarter valued at approximately $104,000. Clear Investment Research LLC acquired a new position in Wells Fargo & during the 2nd quarter valued at approximately $121,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Wells Fargo & during the 1st quarter valued at approximately $124,000. Institutional investors own 75.04% of the company’s stock.
Wells Fargo & Company (NYSE WFC) opened at $53.81 on Friday. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $59.99. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $265,910.09, a price-to-earnings ratio of 13.04, a PEG ratio of 1.30 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. analysts expect that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.90%. Wells Fargo &’s dividend payout ratio (DPR) is currently 40.31%.
WFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods set a $61.00 price objective on Wells Fargo & and gave the company a “buy” rating in a research report on Friday, August 25th. UBS AG set a $57.00 target price on Wells Fargo & and gave the company a “neutral” rating in a research note on Friday, October 6th. Vetr raised Wells Fargo & from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. BMO Capital Markets lifted their target price on Wells Fargo & from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Wells Fargo & currently has an average rating of “Hold” and an average target price of $57.20.
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Wells Fargo & Company 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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