Farmers Trust Co. Buys 300 Shares of Wells Fargo & Company (NYSE:WFC)

Farmers Trust Co. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,963 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. Farmers Trust Co.’s holdings in Wells Fargo & Company were worth $676,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WFC. Campbell & CO Investment Adviser LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth $594,000. Cetera Advisor Networks LLC lifted its holdings in shares of Wells Fargo & Company by 2.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 348,187 shares of the financial services provider’s stock worth $17,138,000 after acquiring an additional 8,943 shares during the period. Exencial Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 9.0% during the 4th quarter. Exencial Wealth Advisors LLC now owns 9,472 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 782 shares in the last quarter. Stephens Inc. AR increased its stake in Wells Fargo & Company by 2.0% in the fourth quarter. Stephens Inc. AR now owns 97,338 shares of the financial services provider’s stock valued at $4,791,000 after acquiring an additional 1,931 shares during the period. Finally, Angeles Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth about $223,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on WFC. Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Morgan Stanley lowered their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $54.98 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $191.68 billion, a P/E ratio of 11.29, a PEG ratio of 1.32 and a beta of 1.16. The business has a 50-day moving average of $55.43 and a 200-day moving average of $57.76. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.91%. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wells Fargo & Company Company Profile

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.