Wells Fargo & Co (WFC) Shares Sold by Security National Trust Co.
Security National Trust Co. cut its stake in shares of Wells Fargo & Co (NYSE:WFC) by 3.5% in the second quarter, HoldingsChannel.com reports. The fund owned 30,918 shares of the financial services provider’s stock after selling 1,120 shares during the period. Security National Trust Co.’s holdings in Wells Fargo & Co were worth $1,713,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. HC Financial Advisors Inc. bought a new position in shares of Wells Fargo & Co during the 4th quarter worth approximately $2,232,000. Waratah Capital Advisors Ltd. bought a new position in Wells Fargo & Co in the 4th quarter valued at $217,000. Tower Research Capital LLC TRC raised its position in Wells Fargo & Co by 13,613.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 92,837 shares of the financial services provider’s stock valued at $5,633,000 after purchasing an additional 92,160 shares during the last quarter. Virtu Financial LLC raised its position in Wells Fargo & Co by 7.1% in the 4th quarter. Virtu Financial LLC now owns 54,766 shares of the financial services provider’s stock valued at $3,323,000 after purchasing an additional 3,627 shares during the last quarter. Finally, Taylor Hoffman Wealth Management bought a new position in Wells Fargo & Co in the 4th quarter valued at $246,000. Institutional investors own 76.39% of the company’s stock.
Several equities analysts have issued reports on WFC shares. Macquarie upgraded Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research report on Monday, April 30th. Morgan Stanley cut their price objective on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, July 16th. Susquehanna Bancshares set a $63.00 price objective on Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, July 13th. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Thursday, July 19th. Finally, Keefe, Bruyette & Woods upgraded Wells Fargo & Co to a “buy” rating in a research report on Monday, April 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.34.
WFC stock opened at $58.07 on Wednesday. The firm has a market cap of $283.15 billion, a PE ratio of 14.13, a PEG ratio of 1.57 and a beta of 1.13. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Friday, August 10th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, August 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. Wells Fargo & Co’s payout ratio is presently 41.85%.
Wells Fargo & Co Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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