Trust Point Inc. Acquires New Position in Wells Fargo & Company (NYSE:WFC)

Trust Point Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,765 shares of the financial services provider’s stock, valued at approximately $2,499,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Venturi Wealth Management LLC grew its position in Wells Fargo & Company by 108.0% during the 4th quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 376 shares during the last quarter. Braun Stacey Associates Inc. grew its position in Wells Fargo & Company by 13.0% during the 4th quarter. Braun Stacey Associates Inc. now owns 418,588 shares of the financial services provider’s stock worth $20,603,000 after acquiring an additional 48,260 shares during the last quarter. Webster Bank N. A. grew its position in Wells Fargo & Company by 7.3% during the 4th quarter. Webster Bank N. A. now owns 9,951 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 676 shares during the last quarter. ERTS Wealth Advisors LLC grew its position in shares of Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after buying an additional 228 shares during the last quarter. Finally, LMG Wealth Partners LLC grew its position in shares of Wells Fargo & Company by 18.0% in the 4th quarter. LMG Wealth Partners LLC now owns 10,423 shares of the financial services provider’s stock worth $513,000 after buying an additional 1,591 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.3 %

Shares of WFC stock traded down $0.20 during mid-day trading on Wednesday, hitting $57.15. The company’s stock had a trading volume of 4,653,502 shares, compared to its average volume of 18,717,385. The stock has a market cap of $202.33 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.20 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. Wells Fargo & Company has a 52-week low of $36.27 and a 52-week high of $58.44. The business has a 50-day moving average price of $53.77 and a 200 day moving average price of $47.47.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. Research analysts predict that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a research report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $56.68.

Get Our Latest Stock Analysis on WFC

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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