First American Trust FSB Increases Stock Position in Wells Fargo & Company (NYSE:WFC) (2023)

First American Trust FSB boosted its stake in Wells Fargo & Company (NYSE:WFC) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,322 shares of the financial services provider’s stock after purchasing an additional 2,925 shares during the quarter. Wells Fargo & Company comprises approximately 1.5% of First American Trust FSB’s holdings, making the stock its 19th largest holding. First American Trust FSB’s holdings in Wells Fargo & Company were worth $9,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Kistler Tiffany Companies LLC raised its position in shares of Wells Fargo & Company by 5.7% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 4,062 shares of the financial services provider’s stock valued at $163,000 after buying an additional 220 shares in the last quarter. Capital Investment Advisors LLC raised its position in shares of Wells Fargo & Company by 0.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 62,426 shares of the financial services provider’s stock valued at $2,511,000 after buying an additional 237 shares in the last quarter. Heritage Wealth Management LLC raised its position in shares of Wells Fargo & Company by 1.7% during the 3rd quarter. Heritage Wealth Management LLC now owns 14,387 shares of the financial services provider’s stock valued at $579,000 after buying an additional 237 shares in the last quarter. Buttonwood Financial Advisors Inc. raised its position in shares of Wells Fargo & Company by 3.5% during the 3rd quarter. Buttonwood Financial Advisors Inc. now owns 7,171 shares of the financial services provider’s stock valued at $304,000 after buying an additional 241 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. raised its position in shares of Wells Fargo & Company by 1.5% during the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 16,400 shares of the financial services provider’s stock valued at $660,000 after buying an additional 250 shares in the last quarter. 72.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kleber Santos sold 34,698 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $46.27, for a total transaction of $1,605,476.46. Following the transaction, the executive vice president now directly owns 19,590 shares in the company, valued at $906,429.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.05% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $37.38 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50 day moving average price is $43.83 and its 200-day moving average price is $43.76. Wells Fargo & Company has a 52-week low of $35.25 and a 52-week high of $53.30. The company has a market cap of $141.19 billion, a PE ratio of 11.90, a P/E/G ratio of 0.76 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. The firm had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. During the same period last year, the firm earned $1.38 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 4.76 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.21%. Wells Fargo & Company’s dividend payout ratio is presently 38.22%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wells Fargo & Company from $60.00 to $50.00 in a research report on Friday, January 6th. Citigroup upped their price target on shares of Wells Fargo & Company from $48.00 to $52.00 in a report on Tuesday, January 17th. Jefferies Financial Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and cut their price target for the company from $49.00 to $46.00 in a report on Tuesday, January 17th. StockNews.com began coverage on shares of Wells Fargo & Company in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada cut their price target on shares of Wells Fargo & Company from $45.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, March 24th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Wells Fargo & Company Company Profile

(Get Rating)

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

Featured Stories

• Get a free copy of the StockNews.com research report on Wells Fargo & Company (WFC)
• These 3 Top-Rated Small Caps May Be Undervalued Bargains
• Intel Promised A Comeback, And It Delivered
• AI Design Sends Synopsys, Nvidia, TSMC & Other Chip Stocks Higher
• Qualcomm Is The Higher Reward, For Higher Risk Takers
• Can Nike Shake Off Inventory Issues and Swoosh Higher?

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:WFC – Get Rating).

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.