Cambridge Trust Co. Lowers Stock Position in Wells Fargo & Company (NYSE:WFC)

Cambridge Trust Co. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 2.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,620 shares of the financial services provider’s stock after selling 385 shares during the period. Cambridge Trust Co.’s holdings in Wells Fargo & Company were worth $847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at $25,000. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $29,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on 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. Compass Point restated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Evercore ISI restated an “outperform” rating and issued a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Thirteen analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.91.

Wells Fargo & Company Stock Down 6.4 %

Shares of WFC stock traded down $3.62 during mid-day trading on Friday, reaching $53.26. 27,642,566 shares of the company were exchanged, compared to its average volume of 16,512,784. The company has a market capitalization of $185.68 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.40 and a beta of 1.17. The business’s 50 day simple moving average is $58.87 and its 200 day simple moving average is $56.81. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

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

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 28.75%.

Wells Fargo & Company Company Profile

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.