Trust Co. of Toledo NA OH Decreases Stake in Wells Fargo & Company $WFC

Trust Co. of Toledo NA OH lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,514 shares of the financial services provider’s stock after selling 995 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Wells Fargo & Company were worth $1,483,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Accretive Wealth Partners LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after acquiring an additional 71,740 shares during the period. Secured Retirement Advisors LLC purchased a new position in Wells Fargo & Company in the 1st quarter worth approximately $408,000. RKL Wealth Management LLC boosted its holdings in Wells Fargo & Company by 166.4% in the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $364,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $77.74 on Friday. The business’s 50 day moving average is $80.63 and its two-hundred day moving average is $76.51. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $86.65. The firm has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.29 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the company posted $1.33 EPS. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

Analyst Ratings Changes

A number of research firms have weighed in on WFC. Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $87.00 to $90.00 in a report on Monday, September 29th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Evercore ISI upped their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday. Finally, Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $85.41.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.