Boston Trust Walden Corp reduced its position in Wells Fargo & Company (NYSE:WFC) by 36.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,809 shares of the financial services provider’s stock after selling 3,400 shares during the quarter. Boston Trust Walden Corp’s holdings in Wells Fargo & Company were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in WFC. Patriot Financial Group Insurance Agency LLC increased its position in Wells Fargo & Company by 3.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 18,849 shares of the financial services provider’s stock worth $904,000 after buying an additional 557 shares during the last quarter. HBW Advisory Services LLC increased its position in Wells Fargo & Company by 10.8% in the fourth quarter. HBW Advisory Services LLC now owns 5,793 shares of the financial services provider’s stock worth $278,000 after buying an additional 565 shares during the last quarter. Gradient Investments LLC increased its position in Wells Fargo & Company by 726.3% in the fourth quarter. Gradient Investments LLC now owns 16,071 shares of the financial services provider’s stock worth $771,000 after buying an additional 14,126 shares during the last quarter. Stonnington Group LLC increased its position in Wells Fargo & Company by 679.6% in the fourth quarter. Stonnington Group LLC now owns 118,230 shares of the financial services provider’s stock worth $6,628,000 after buying an additional 103,065 shares during the last quarter. Finally, Pure Financial Advisors LLC increased its position in Wells Fargo & Company by 3.2% in the fourth quarter. Pure Financial Advisors LLC now owns 13,679 shares of the financial services provider’s stock worth $656,000 after buying an additional 428 shares during the last quarter. 74.01% of the stock is owned by institutional investors and hedge funds.
WFC has been the subject of a number of analyst reports. Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and cut their price target for the stock from $58.00 to $56.00 in a report on Monday, April 11th. Piper Sandler set a $48.00 price target on Wells Fargo & Company in a report on Monday, June 20th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $54.00 to $56.00 in a report on Thursday, April 14th. Royal Bank of Canada cut their price target on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Morgan Stanley cut their price target on Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.03.
NYSE:WFC opened at $39.92 on Friday. The firm has a market capitalization of $151.31 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 0.98 and a beta of 1.13. Wells Fargo & Company has a 52-week low of $36.54 and a 52-week high of $60.30. The stock has a fifty day moving average of $42.50 and a 200 day moving average of $48.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.79 and a current ratio of 0.80.
Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The firm had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.82 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 20.79%.
In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of Wells Fargo & Company stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the sale, the executive vice president now owns 21,478 shares of the company’s stock, valued at $954,482.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.05% of the company’s stock.
About Wells Fargo & Company (Get Rating)
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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