Trust Point Inc. Increases Stake in Wells Fargo & Company (NYSE:WFC)

Trust Point Inc. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,727 shares of the financial services provider’s stock after buying an additional 1,767 shares during the period. Trust Point Inc.’s holdings in Wells Fargo & Company were worth $3,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $34,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $78.14 on Tuesday. The firm has a market cap of $260.17 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.19 and a beta of 1.18. The business’s 50-day simple moving average is $73.59 and its 200-day simple moving average is $64.78. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $79.29.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. Wells Fargo & Company’s payout ratio is 29.74%.

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.