Cambridge Trust Co. Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

Cambridge Trust Co. cut its position in Wells Fargo & Company (NYSE:WFC) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,620 shares of the financial services provider’s stock after selling 385 shares during the quarter. Cambridge Trust Co.’s holdings in Wells Fargo & Company were worth $847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $29,000. Wetzel Investment Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. Argus increased their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Evercore ISI reissued an “outperform” rating and issued a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Finally, Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday. Thirteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.91.

Wells Fargo & Company Trading Down 6.4 %

Shares of WFC traded down $3.62 during trading hours on Friday, reaching $53.26. 27,642,566 shares of the company traded hands, compared to its average volume of 16,512,784. The company’s fifty day moving average price is $58.87 and its two-hundred day moving average price is $56.81. The company has a market capitalization of $185.68 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be paid a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. Wells Fargo & Company’s payout ratio is presently 28.75%.

About Wells Fargo & Company

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.