Diversified Trust Co Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Diversified Trust Co lifted its position in Wells Fargo & Company (NYSE:WFC) by 10.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,335 shares of the financial services provider’s stock after purchasing an additional 2,294 shares during the period. Diversified Trust Co’s holdings in Wells Fargo & Company were worth $1,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter worth approximately $26,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $34,000. Finally, Valued Wealth Advisors LLC raised its stake in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Morgan Stanley cut their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, BMO Capital Markets boosted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.65.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $57.28 on Wednesday. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a market cap of $199.70 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The company’s 50 day moving average is $55.31 and its 200 day moving average is $57.75.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 32.85%.

About Wells Fargo & Company

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.