Coastline Trust Co Sells 1,860 Shares of Wells Fargo & Company (NYSE:WFC)

Coastline Trust Co lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 27.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,915 shares of the financial services provider’s stock after selling 1,860 shares during the quarter. Coastline Trust Co’s holdings in Wells Fargo & Company were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WFC. Norges Bank bought a new position in Wells Fargo & Company in the 4th quarter valued at $2,049,693,000. Moneta Group Investment Advisors LLC grew its stake in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares during the period. Renaissance Technologies LLC grew its stake in shares of Wells Fargo & Company by 1,478.6% during the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock worth $406,609,000 after acquiring an additional 7,859,100 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Wells Fargo & Company during the 1st quarter worth $345,861,000. Finally, Imprint Wealth LLC grew its stake in shares of Wells Fargo & Company by 4,238.0% during the 2nd quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock worth $428,490,000 after acquiring an additional 4,186,124 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.4 %

Wells Fargo & Company stock opened at $57.13 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24. The business’s fifty day simple moving average is $53.92 and its two-hundred day simple moving average is $47.54. Wells Fargo & Company has a 12 month low of $36.27 and a 12 month high of $58.44. The company has a market capitalization of $202.26 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is currently 29.05%.

Analyst Ratings Changes

WFC has been the subject of several research reports. Compass Point increased their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, Morgan Stanley lifted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.68.

View Our Latest Stock Analysis on Wells Fargo & Company

Wells Fargo & Company Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCFree Report).

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.