Wells Fargo & Co (NYSE:WFC) Shares Sold by Charter Trust Co.

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Charter Trust Co. decreased its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,163 shares of the financial services provider’s stock after selling 3,730 shares during the quarter. Charter Trust Co.’s holdings in Wells Fargo & Co were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Wells Fargo & Co during the 4th quarter valued at $2,157,509,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Wells Fargo & Co by 2.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,190,409 shares of the financial services provider’s stock valued at $1,086,244,000 after acquiring an additional 488,783 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Wells Fargo & Co by 227.0% during the 4th quarter. Capital Research Global Investors now owns 19,840,076 shares of the financial services provider’s stock valued at $1,067,396,000 after acquiring an additional 13,773,468 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Wells Fargo & Co by 1.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,227,543 shares of the financial services provider’s stock valued at $465,730,000 after acquiring an additional 193,361 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Wells Fargo & Co by 3.3% during the 1st quarter. EdgePoint Investment Group Inc. now owns 15,730,967 shares of the financial services provider’s stock valued at $451,479,000 after acquiring an additional 503,421 shares in the last quarter. Institutional investors and hedge funds own 73.18% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Wells Fargo & Co from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday. Zacks Investment Research raised shares of Wells Fargo & Co from a “strong sell” rating to a “hold” rating and set a $23.00 price target on the stock in a research note on Tuesday, March 17th. Deutsche Bank raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Wednesday, June 3rd. Compass Point dropped their price target on shares of Wells Fargo & Co from $33.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the stock. Wells Fargo & Co has an average rating of “Hold” and a consensus target price of $37.89.

In other news, Director Charles H. Noski bought 20,000 shares of Wells Fargo & Co stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $29.53 per share, with a total value of $590,600.00. Following the purchase, the director now directly owns 74 shares of the company’s stock, valued at approximately $2,185.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles W. Scharf bought 173,000 shares of Wells Fargo & Co stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $28.69 per share, with a total value of $4,963,370.00. Following the completion of the purchase, the chief executive officer now directly owns 176,916 shares in the company, valued at $5,075,720.04. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

Wells Fargo & Co stock traded down $2.21 during midday trading on Thursday, reaching $27.50. 45,193,422 shares of the stock traded hands, compared to its average volume of 40,082,113. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average price of $26.76 and a two-hundred day moving average price of $39.90. The firm has a market cap of $129.85 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 4.01 and a beta of 1.15. Wells Fargo & Co has a fifty-two week low of $22.00 and a fifty-two week high of $54.75.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.85). The firm had revenue of $17.72 billion for the quarter, compared to analyst estimates of $19.40 billion. Wells Fargo & Co had a net margin of 14.52% and a return on equity of 9.28%. The company’s revenue for the quarter was down 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. Analysts anticipate that Wells Fargo & Co will post 0.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date was Thursday, May 7th. Wells Fargo & Co’s payout ratio is 46.58%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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