Independence Trust CO Has $3.16 Million Holdings in Wells Fargo & Company (WFC)
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%.
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.
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