Coastline Trust Co Sells 298 Shares of Wells Fargo & Company $WFC

Coastline Trust Co cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,976 shares of the financial services provider’s stock after selling 298 shares during the period. Coastline Trust Co’s holdings in Wells Fargo & Company were worth $559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Guyasuta Investment Advisors Inc. lifted its holdings in Wells Fargo & Company by 6.3% during the second quarter. Guyasuta Investment Advisors Inc. now owns 4,257 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 252 shares during the period. Stockman Wealth Management Inc. grew its stake in Wells Fargo & Company by 43.1% in the 2nd quarter. Stockman Wealth Management Inc. now owns 5,932 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 1,788 shares during the period. Avior Wealth Management LLC increased its position in shares of Wells Fargo & Company by 3.1% during the 2nd quarter. Avior Wealth Management LLC now owns 51,835 shares of the financial services provider’s stock valued at $4,153,000 after purchasing an additional 1,540 shares during the last quarter. Sterneck Capital Management LLC raised its stake in shares of Wells Fargo & Company by 7.0% during the 2nd quarter. Sterneck Capital Management LLC now owns 6,415 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 419 shares during the period. Finally, Sage Rhino Capital LLC boosted its holdings in shares of Wells Fargo & Company by 8.7% in the 2nd quarter. Sage Rhino Capital LLC now owns 21,215 shares of the financial services provider’s stock worth $1,700,000 after buying an additional 1,696 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $85.01 on Friday. The firm has a market cap of $272.32 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $80.84 and its 200-day moving average is $75.91. Wells Fargo & Company has a 12-month low of $54.40 and a 12-month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period last year, the firm earned $1.33 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Truist Financial increased their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Citigroup increased their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $82.97.

Wells Fargo & Company Company Profile

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