Coastline Trust Co Has $559,000 Stock Position in Wells Fargo & Company $WFC

Coastline Trust Co cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,976 shares of the financial services provider’s stock after selling 298 shares during the quarter. Coastline Trust Co’s holdings in Wells Fargo & Company were worth $559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guyasuta Investment Advisors Inc. increased its stake in shares of Wells Fargo & Company by 6.3% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 4,257 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 252 shares in the last quarter. Stockman Wealth Management Inc. grew its holdings in Wells Fargo & Company by 43.1% in the second quarter. Stockman Wealth Management Inc. now owns 5,932 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 1,788 shares during the period. Avior Wealth Management LLC increased its stake in Wells Fargo & Company by 3.1% in the second quarter. Avior Wealth Management LLC now owns 51,835 shares of the financial services provider’s stock valued at $4,153,000 after purchasing an additional 1,540 shares in the last quarter. Sterneck Capital Management LLC increased its stake in Wells Fargo & Company by 7.0% in the second quarter. Sterneck Capital Management LLC now owns 6,415 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 419 shares in the last quarter. Finally, Sage Rhino Capital LLC raised its holdings in shares of Wells Fargo & Company by 8.7% during the second quarter. Sage Rhino Capital LLC now owns 21,215 shares of the financial services provider’s stock valued at $1,700,000 after purchasing an additional 1,696 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $85.01 on Friday. Wells Fargo & Company has a 52 week low of $54.40 and a 52 week high of $86.65. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The business has a 50 day moving average price of $80.84 and a 200-day moving average price of $75.91. The company has a market cap of $272.32 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 30.82%.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Wall Street Zen lowered Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.97.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.