Wells Fargo & Company $WFC Stock Holdings Lifted by Trust Co. of Vermont

Trust Co. of Vermont lifted its position in Wells Fargo & Company (NYSE:WFC) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,972 shares of the financial services provider’s stock after acquiring an additional 473 shares during the period. Trust Co. of Vermont’s holdings in Wells Fargo & Company were worth $959,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WFC. Brighton Jones LLC increased its position in shares of Wells Fargo & Company by 62.3% in the fourth 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 in the last quarter. Merit Financial Group LLC increased its position in shares of Wells Fargo & Company by 10.0% in the first quarter. Merit Financial Group LLC now owns 105,475 shares of the financial services provider’s stock worth $7,572,000 after acquiring an additional 9,552 shares in the last quarter. RFG Advisory LLC increased its position in shares of Wells Fargo & Company by 13.4% in the first quarter. RFG Advisory LLC now owns 41,879 shares of the financial services provider’s stock worth $3,006,000 after acquiring an additional 4,944 shares in the last quarter. Apella Capital LLC increased its position in shares of Wells Fargo & Company by 12.6% in the first quarter. Apella Capital LLC now owns 31,011 shares of the financial services provider’s stock worth $2,057,000 after acquiring an additional 3,474 shares in the last quarter. Finally, Northside Capital Management LLC increased its position in shares of Wells Fargo & Company by 1.5% in the first quarter. Northside Capital Management LLC now owns 27,530 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 403 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $80.94 on Thursday. The firm has a fifty day simple moving average of $80.91 and a 200-day simple moving average of $76.15. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 1-year low of $54.40 and a 1-year high of $86.65. The stock has a market capitalization of $259.28 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.29 and a beta of 1.25.

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

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date 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 dividend payout ratio is presently 30.82%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $87.00 to $90.00 in a research report on Monday. Citigroup boosted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $83.74.

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.