American Trust Has $762,000 Holdings in Wells Fargo & Company (NYSE:WFC)

American Trust cut its position in Wells Fargo & Company (NYSE:WFC) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,733 shares of the financial services provider’s stock after selling 818 shares during the period. American Trust’s holdings in Wells Fargo & Company were worth $762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisory LLC boosted its position in Wells Fargo & Company by 2.3% in the fourth quarter. Cornerstone Advisory LLC now owns 8,397 shares of the financial services provider’s stock valued at $403,000 after buying an additional 187 shares in the last quarter. First Financial Bank Trust Division boosted its position in Wells Fargo & Company by 0.8% in the first quarter. First Financial Bank Trust Division now owns 27,740 shares of the financial services provider’s stock valued at $1,345,000 after buying an additional 212 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its position in Wells Fargo & Company by 21.8% in the first quarter. Mizuho Securities Co. Ltd. now owns 1,235 shares of the financial services provider’s stock valued at $60,000 after buying an additional 221 shares in the last quarter. PBMares Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 3.5% in the first quarter. PBMares Wealth Management LLC now owns 6,739 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 225 shares during the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of Wells Fargo & Company by 1.2% in the first quarter. Fulton Bank N.A. now owns 19,370 shares of the financial services provider’s stock worth $939,000 after acquiring an additional 229 shares during the last quarter. 72.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 18th. Royal Bank of Canada dropped their target price on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, September 12th. Jefferies Financial Group dropped their target price on shares of Wells Fargo & Company from $55.00 to $47.00 in a research note on Monday, July 11th. Finally, Piper Sandler set a $48.00 price target on shares of Wells Fargo & Company in a research note on Monday, June 20th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $55.97.

Wells Fargo & Company Stock Down 0.5 %

Shares of NYSE WFC opened at $43.94 on Friday. The stock has a market cap of $166.67 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.06 and a beta of 1.16. The firm has a 50 day moving average price of $43.52 and a 200 day moving average price of $44.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81. Wells Fargo & Company has a 52-week low of $36.54 and a 52-week high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The firm had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Analysts expect that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Thursday, August 4th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio is 28.78%.

Wells Fargo & Company Profile

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

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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