Capital Bank & Trust Co increased its stake in shares of Wells Fargo & Co (NYSE:WFC) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,049 shares of the financial services provider’s stock after purchasing an additional 31,889 shares during the quarter. Capital Bank & Trust Co’s holdings in Wells Fargo & Co were worth $38,846,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bath Savings Trust Co increased its stake in Wells Fargo & Co by 4.1% in the fourth quarter. Bath Savings Trust Co now owns 4,783 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 190 shares during the period. Norman Fields Gottscho Capital Management LLC lifted its position in Wells Fargo & Co by 2.4% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 8,480 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 200 shares during the period. Financial Advisory Group lifted its position in Wells Fargo & Co by 3.9% during the 4th quarter. Financial Advisory Group now owns 5,685 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 213 shares during the period. LVW Advisors LLC grew its stake in shares of Wells Fargo & Co by 0.3% in the 4th quarter. LVW Advisors LLC now owns 76,402 shares of the financial services provider’s stock valued at $4,110,000 after purchasing an additional 229 shares during the last quarter. Finally, Omnia Family Wealth LLC grew its stake in shares of Wells Fargo & Co by 3.2% in the 4th quarter. Omnia Family Wealth LLC now owns 7,417 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.
In other Wells Fargo & Co news, CEO Charles W. Scharf acquired 173,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $28.69 per share, for a total transaction of $4,963,370.00. Following the transaction, the chief executive officer now directly owns 176,916 shares of the company’s stock, valued at $5,075,720.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Noski acquired 20,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $29.53 per share, for a total transaction of $590,600.00. Following the completion of the purchase, the director now owns 74 shares in the company, valued at approximately $2,185.22. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
Several equities research analysts have recently commented on WFC shares. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Piper Sandler cut shares of Wells Fargo & Co from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $52.00 in a research note on Wednesday, January 15th. Barclays cut shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price objective on the stock. in a research note on Monday, January 6th. Odeon Capital Group upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada cut shares of Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $48.00 to $42.00 in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and one has issued a buy rating to the company. Wells Fargo & Co currently has an average rating of “Hold” and a consensus price target of $46.42.
Shares of NYSE:WFC traded up $1.15 during trading on Thursday, hitting $30.12. 12,497,953 shares of the stock were exchanged, compared to its average volume of 52,025,180. The company has a market cap of $118.27 billion, a PE ratio of 7.49, a P/E/G ratio of 0.72 and a beta of 1.14. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average price of $39.99 and a two-hundred day moving average price of $48.49. Wells Fargo & Co has a 12-month low of $25.10 and a 12-month high of $54.75.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.17). The firm had revenue of $19.86 billion for the quarter, compared to analyst estimates of $20.11 billion. Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. Equities research analysts anticipate that Wells Fargo & Co will post 3.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 7th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Thursday, February 6th. Wells Fargo & Co’s dividend payout ratio is currently 46.58%.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
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