CENTRAL TRUST Co Buys 1,526 Shares of Wells Fargo & Company $WFC

CENTRAL TRUST Co boosted its stake in Wells Fargo & Company (NYSE:WFC) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,050 shares of the financial services provider’s stock after purchasing an additional 1,526 shares during the quarter. CENTRAL TRUST Co’s holdings in Wells Fargo & Company were worth $3,209,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the last quarter. Strs Ohio bought a new position in Wells Fargo & Company during the 1st quarter worth approximately $109,643,000. Canada Pension Plan Investment Board grew its holdings in Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after purchasing an additional 1,365,629 shares during the period. Phoenix Financial Ltd. increased its stake in Wells Fargo & Company by 437.6% in the second quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock valued at $105,120,000 after purchasing an additional 1,068,040 shares in the last quarter. Finally, Temasek Holdings Private Ltd acquired a new stake in Wells Fargo & Company in the first quarter worth $69,602,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.1%

NYSE:WFC opened at $86.21 on Wednesday. The stock has a 50-day simple moving average of $83.42 and a 200 day simple moving average of $79.67. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.50. The company has a market cap of $270.61 billion, a PE ratio of 14.18, a PEG ratio of 1.18 and a beta of 1.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. The Goldman Sachs Group decreased 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 report on Wednesday, July 16th. Citigroup boosted their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Bank of America raised their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Truist Financial lifted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

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.