Wells Fargo & Company (NYSE:WFC) Holdings Boosted by Independence Trust CO

Independence Trust CO boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 16.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,972 shares of the financial services provider’s stock after acquiring an additional 7,875 shares during the quarter. Wells Fargo & Company accounts for about 3.7% of Independence Trust CO’s portfolio, making the stock its 10th largest position. Independence Trust CO’s holdings in Wells Fargo & Company were worth $3,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CFO4Life Group LLC grew its holdings in Wells Fargo & Company by 14.7% during the 2nd quarter. CFO4Life Group LLC now owns 18,790 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 2,405 shares during the last quarter. River & Mercantile Asset Management LLP boosted its stake in shares of Wells Fargo & Company by 112.3% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 411,135 shares of the financial services provider’s stock valued at $22,787,000 after purchasing an additional 217,435 shares during the last quarter. Sage Capital Advisors llc bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $2,423,000. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Wells Fargo & Company by 9.9% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 72,450 shares of the financial services provider’s stock valued at $4,014,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Capital Planning Advisors LLC boosted its stake in shares of Wells Fargo & Company by 24.6% in the 2nd quarter. Capital Planning Advisors LLC now owns 25,898 shares of the financial services provider’s stock valued at $1,435,000 after purchasing an additional 5,120 shares during the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on WFC shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, August 16th. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, September 5th. Vetr upgraded shares of Wells Fargo & Company to a “strong-buy” rating in a research report on Thursday, September 7th. Piper Jaffray Companies reiterated a “neutral” rating and set a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & Company in a research report on Wednesday, September 13th. Finally, UBS reiterated a “neutral” rating and set a $56.00 target price (down previously from $59.00) on shares of Wells Fargo & Company in a research report on Friday, September 15th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Wells Fargo & Company has an average rating of “Hold” and an average target price of $57.25.

Wells Fargo & Company (NYSE:WFC) traded up $0.02 during midday trading on Wednesday, hitting $58.57. 26,755,322 shares of the stock traded hands, compared to its average volume of 18,356,117. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $59.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91. The company has a market cap of $289,120.00, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. equities analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a $0.39 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.66%. Wells Fargo & Company’s payout ratio is 40.31%.

In other news, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Shrewsberry sold 70,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,482 shares of company stock valued at $10,471,050. Company insiders own 0.22% of the company’s stock.

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Wells Fargo & Company Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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