First Financial Bank Trust Division Decreases Stake in Wells Fargo & Company (NYSE:WFC)


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First Financial Bank Trust Division cut its stake in Wells Fargo & Company (NYSE:WFC) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,904 shares of the financial services provider’s stock after selling 949 shares during the period. First Financial Bank Trust Division’s holdings in Wells Fargo & Company were worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WFC. Hoover Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Baron Silver Stevens Financial Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth $26,000. RMR Wealth Builders purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $30,000. Flagship Private Wealth LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $31,000. Finally, Key Financial Inc purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $31,000. 67.25% of the stock is currently owned by institutional investors.

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Wells Fargo & Company from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday. DA Davidson raised their target price on shares of Wells Fargo & Company from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, January 19th. UBS Group raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating in a report on Tuesday, January 12th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 18th. Finally, TheStreet downgraded Wells Fargo & Company from a “b-” rating to a “c” rating in a research note on Wednesday, February 24th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.00.

Wells Fargo & Company stock traded down $0.39 during midday trading on Thursday, reaching $39.60. The company had a trading volume of 210,657 shares, compared to its average volume of 35,688,645. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Company has a 12-month low of $20.76 and a 12-month high of $41.54. The company has a market capitalization of $163.71 billion, a P/E ratio of 108.08, a P/E/G ratio of 4.84 and a beta of 1.07. The firm’s fifty day simple moving average is $38.49 and its 200-day simple moving average is $30.39.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Thursday, January 14th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The firm had revenue of $17.93 billion for the quarter, compared to analyst estimates of $18 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The business’s revenue was down 9.7% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, February 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is 9.13%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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