Wells Fargo & Company $WFC Shares Sold by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,514 shares of the financial services provider’s stock after selling 995 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Wells Fargo & Company were worth $1,483,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its stake in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth $27,000. Motco raised its stake in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the 1st quarter worth $29,000. Finally, 1248 Management LLC acquired a new position in shares of Wells Fargo & Company during the 1st quarter worth $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 2.7%

WFC opened at $77.74 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $249.04 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.29 and a beta of 1.25. The business has a 50-day moving average of $80.63 and a two-hundred day moving average of $76.51. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $86.65.

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

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore ISI lifted their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Finally, Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.41.

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.