Wells Fargo & Company $WFC Shares Sold by NBT Bank N A NY

NBT Bank N A NY decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,786 shares of the financial services provider’s stock after selling 251 shares during the quarter. NBT Bank N A NY’s holdings in Wells Fargo & Company were worth $2,867,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Accretive Wealth Partners LLC purchased a new position in Wells Fargo & Company in the first quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of 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 valued at $54,471,000 after purchasing an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 1st quarter valued at about $408,000. RKL Wealth Management LLC lifted its holdings in shares of 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 valued at $588,000 after purchasing an additional 5,113 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $364,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on WFC shares. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $85.41.

Wells Fargo & Company Trading Up 0.5%

WFC stock opened at $81.09 on Wednesday. The company has a market cap of $259.75 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.24 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. The business has a fifty day simple moving average of $80.69 and a 200-day simple moving average of $76.42. Wells Fargo & Company has a 52 week low of $57.07 and a 52 week high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is currently 30.82%.

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.