Equitable Trust Co. Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Equitable Trust Co. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,924 shares of the financial services provider’s stock after acquiring an additional 4,242 shares during the quarter. Equitable Trust Co.’s holdings in Wells Fargo & Company were worth $1,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Soltis Investment Advisors LLC raised its stake in shares of Wells Fargo & Company by 3.8% during the 4th quarter. Soltis Investment Advisors LLC now owns 23,859 shares of the financial services provider’s stock worth $1,676,000 after buying an additional 875 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in Wells Fargo & Company by 1,090.7% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 381,272 shares of the financial services provider’s stock worth $26,781,000 after purchasing an additional 349,251 shares in the last quarter. Savant Capital LLC increased its position in Wells Fargo & Company by 6.8% during the 4th quarter. Savant Capital LLC now owns 95,767 shares of the financial services provider’s stock worth $6,727,000 after purchasing an additional 6,075 shares in the last quarter. Angeles Wealth Management LLC increased its position in Wells Fargo & Company by 199.2% during the 4th quarter. Angeles Wealth Management LLC now owns 44,469 shares of the financial services provider’s stock worth $3,124,000 after purchasing an additional 29,604 shares in the last quarter. Finally, 17 Capital Partners LLC increased its position in Wells Fargo & Company by 51.2% during the 4th quarter. 17 Capital Partners LLC now owns 5,923 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 2,005 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.0 %

NYSE:WFC opened at $79.05 on Tuesday. Wells Fargo & Company has a 1 year low of $47.59 and a 1 year high of $81.50. The stock has a market cap of $263.21 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.22 and a beta of 1.18. The business has a fifty day moving average of $73.89 and a 200-day moving average of $65.51. 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 (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WFC. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Profile

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.