First Bank & Trust Reduces Holdings in Wells Fargo & Company $WFC

First Bank & Trust decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,114 shares of the financial services provider’s stock after selling 395 shares during the period. First Bank & Trust’s holdings in Wells Fargo & Company were worth $1,531,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WFC. Brighton Jones LLC grew its holdings in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Wells Fargo & Company by 3.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 24,075 shares of the financial services provider’s stock valued at $1,691,000 after purchasing an additional 862 shares in the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in Wells Fargo & Company in the fourth quarter worth $188,000. Stonebrook Private Inc. grew its stake in Wells Fargo & Company by 6.5% in the fourth quarter. Stonebrook Private Inc. now owns 4,039 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 248 shares during the period. Finally, Twinbeech Capital LP bought a new position in Wells Fargo & Company in the fourth quarter worth $2,693,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WFC shares. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Bank of America raised their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.56.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $81.47 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a one year low of $52.81 and a one year high of $84.83. The firm has a market capitalization of $260.98 billion, a P/E ratio of 13.95, a PEG ratio of 1.27 and a beta of 1.25. The business has a fifty day moving average of $80.37 and a 200 day moving average of $75.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 30.82%.

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.