Old North State Trust LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,041 shares of the financial services provider’s stock after buying an additional 1,661 shares during the quarter. Old North State Trust LLC’s holdings in Wells Fargo & Company were worth $787,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Rothschild Investment Corp IL grew its position in Wells Fargo & Company by 1.0% during the first quarter. Rothschild Investment Corp IL now owns 24,086 shares of the financial services provider’s stock worth $900,000 after buying an additional 242 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its stake in Wells Fargo & Company by 4.6% during the fourth quarter. Cape Cod Five Cents Savings Bank now owns 5,625 shares of the financial services provider’s stock worth $232,000 after buying an additional 245 shares in the last quarter. American National Bank boosted its stake in Wells Fargo & Company by 8.5% during the first quarter. American National Bank now owns 3,163 shares of the financial services provider’s stock worth $118,000 after buying an additional 248 shares in the last quarter. Wade G W & Inc. boosted its stake in Wells Fargo & Company by 5.1% during the fourth quarter. Wade G W & Inc. now owns 5,319 shares of the financial services provider’s stock worth $220,000 after buying an additional 259 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its stake in Wells Fargo & Company by 2.3% during the first quarter. Nicolet Advisory Services LLC now owns 11,859 shares of the financial services provider’s stock worth $449,000 after buying an additional 262 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.
Wells Fargo & Company Stock Down 0.2 %
Shares of NYSE WFC opened at $42.95 on Friday. The firm’s 50-day simple moving average is $43.42 and its 200 day simple moving average is $41.52. The company has a market cap of $157.14 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.86 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $48.84.
Wells Fargo & Company Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were issued a dividend of $0.35 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.40 annualized dividend and a yield of 3.26%. Wells Fargo & Company’s dividend payout ratio is currently 35.00%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on WFC. HSBC started coverage on shares of Wells Fargo & Company in a research note on Thursday, September 7th. They set a “hold” rating and a $45.00 price target on the stock. Morgan Stanley lifted their price objective on Wells Fargo & Company from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Raymond James lifted their price objective on Wells Fargo & Company from $48.00 to $51.00 and gave the company a “strong-buy” rating in a report on Monday, July 3rd. Wolfe Research downgraded Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. Finally, StockNews.com initiated coverage on Wells Fargo & Company in a report on Thursday, August 17th. They set a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.39.
Get Our Latest Report on Wells Fargo & Company
About Wells Fargo & Company
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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