CENTRAL TRUST Co Reduces Position in Wells Fargo & Company (NYSE:WFC)

CENTRAL TRUST Co reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 15.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,148 shares of the financial services provider’s stock after selling 7,437 shares during the period. CENTRAL TRUST Co’s holdings in Wells Fargo & Company were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth $26,000. Valued Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares in the last quarter. J.Safra Asset Management Corp increased its stake in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth $47,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $65.43 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $222.71 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The stock’s 50-day moving average is $57.20 and its two-hundred day moving average is $58.15. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $65.57.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.45%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point raised their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.82.

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.