Wells Fargo & Company (NYSE:WFC) Shares Sold by Diversified Trust Co

Diversified Trust Co lessened its stake in Wells Fargo & Company (NYSE:WFC) by 15.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,322 shares of the financial services provider’s stock after selling 4,675 shares during the quarter. Diversified Trust Co’s holdings in Wells Fargo & Company were worth $1,468,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. upped their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Trading Up 1.8 %

Shares of Wells Fargo & Company stock traded up $1.07 during midday trading on Monday, reaching $60.46. The company had a trading volume of 5,274,515 shares, compared to its average volume of 18,461,350. The stock has a fifty day moving average price of $59.55 and a 200 day moving average price of $55.15. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $210.78 billion, a PE ratio of 12.40, a P/E/G ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.