Independence Trust CO raised its holdings in Wells Fargo & Company (NYSE:WFC) by 16.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,972 shares of the financial services provider’s stock after purchasing an additional 7,875 shares during the quarter. Wells Fargo & accounts for 3.7% of Independence Trust CO’s holdings, making the stock its 10th largest holding. Independence Trust CO’s holdings in Wells Fargo & were worth $3,156,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Boston Partners raised its holdings in shares of Wells Fargo & by 140.1% in the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after buying an additional 11,139,780 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Wells Fargo & by 49.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after buying an additional 3,214,592 shares during the period. APG Asset Management N.V. raised its holdings in shares of Wells Fargo & by 38.8% in the 2nd quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock valued at $531,231,000 after buying an additional 2,681,497 shares during the period. USS Investment Management Ltd raised its holdings in shares of Wells Fargo & by 62.7% in the 2nd quarter. USS Investment Management Ltd now owns 6,359,300 shares of the financial services provider’s stock valued at $352,464,000 after buying an additional 2,450,000 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in shares of Wells Fargo & in the 1st quarter valued at $90,858,000. Institutional investors own 74.88% of the company’s stock.

Several equities research analysts recently issued reports on WFC shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “hold” rating on shares of Wells Fargo & in a report on Sunday, July 30th. BMO Capital Markets upgraded Wells Fargo & from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $50.00 to $47.00 in a report on Monday, July 31st. They noted that the move was a valuation call. BidaskClub downgraded Wells Fargo & from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Wells Fargo & in a report on Wednesday, August 16th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $57.20.

Shares of Wells Fargo & Company (WFC) opened at $54.05 on Tuesday. Wells Fargo & Company has a 1 year low of $49.27 and a 1 year high of $59.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91. The firm has a market capitalization of $266,350.00, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. equities analysts predict that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.89%. Wells Fargo &’s payout ratio is 40.31%.

ILLEGAL ACTIVITY WARNING: This piece of content was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://theolympiareport.com/2017/11/21/independence-trust-co-has-3-16-million-holdings-in-wells-fargo-company-wfc.html.

Wells Fargo & Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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).

Institutional Ownership by Quarter for Wells Fargo & (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 Analyst Ratings Network's FREE daily email newsletter.