Pennsylvania Trust Co cut its position in Wells Fargo & Co (NYSE:WFC) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,095 shares of the financial services provider’s stock after selling 13,645 shares during the quarter. Pennsylvania Trust Co’s holdings in Wells Fargo & Co were worth $10,509,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Stelac Advisory Services LLC bought a new stake in Wells Fargo & Co in the 2nd quarter valued at $104,000. Patriot Financial Group Insurance Agency LLC boosted its stake in Wells Fargo & Co by 0.3% in 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 period. Westside Investment Management Inc. boosted its stake in Wells Fargo & Co by 63.9% in the 2nd quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 891 shares during the period. BKS Advisors LLC bought a new stake in Wells Fargo & Co in the 3rd quarter valued at $143,000. Finally, BDO Wealth Advisors LLC bought a new stake in Wells Fargo & Co in the 2nd quarter valued at $151,000. Institutional investors and hedge funds own 75.69% of the company’s stock.
Several analysts recently issued reports on the company. Bank of America reduced their price target on Wells Fargo & Co from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Morgan Stanley downgraded Wells Fargo & Co from an “equal weight” rating to an “underweight” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. downgraded Wells Fargo & Co from a “neutral” rating to an “underweight” rating in a research note on Monday, February 5th. Vetr upgraded Wells Fargo & Co from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. Finally, Vining Sparks restated a “buy” rating and issued a $75.00 price target on shares of Wells Fargo & Co in a research note on Monday, January 8th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $62.90.
In other news, insider Michael J. Loughlin sold 17,482 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald Sargent acquired 9,000 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $55.98 per share, for a total transaction of $503,820.00. Following the transaction, the director now directly owns 81 shares in the company, valued at $4,534.38. The disclosure for this purchase can be found here. Insiders have sold a total of 184,482 shares of company stock valued at $10,471,050 in the last three months. 0.22% of the stock is owned by insiders.
Wells Fargo & Co (NYSE:WFC) opened at $59.17 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $66.31. The company has a market capitalization of $291,370.00, a price-to-earnings ratio of 17.15, a PEG ratio of 1.56 and a beta of 1.01.
Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The business had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. During the same period last year, the firm posted $0.96 EPS. Wells Fargo & Co’s quarterly revenue was up 2.2% on a year-over-year basis. research analysts expect that Wells Fargo & Co will post 4.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.64%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 45.22%.
Wells Fargo & Co announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 23rd that permits the company to buyback 350,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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Wells Fargo & Co 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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