New York Life Trust Co. Sells 225 Shares of Wells Fargo & Company (WFC)

New York Life Trust Co. Sells 225 Shares of Wells Fargo & Company (WFC)

New York Life Trust Co. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,974 shares of the financial services provider’s stock after selling 225 shares during the period. New York Life Trust Co.’s holdings in Wells Fargo & Company were worth $132,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WFC. Kistler Tiffany Companies LLC raised its position in Wells Fargo & Company by 1.5% in the third quarter. Kistler Tiffany Companies LLC now owns 15,502 shares of the financial services provider’s stock valued at $686,000 after buying an additional 235 shares in the last quarter. Chatham Capital Group Inc. raised its position in Wells Fargo & Company by 94.4% in the third quarter. Chatham Capital Group Inc. now owns 68,325 shares of the financial services provider’s stock valued at $3,025,000 after buying an additional 33,175 shares in the last quarter. Giverny Capital Inc. raised its position in Wells Fargo & Company by 3.9% in the third quarter. Giverny Capital Inc. now owns 511,575 shares of the financial services provider’s stock valued at $22,653,000 after buying an additional 18,971 shares in the last quarter. Cabot Wealth Management Inc. bought a new position in Wells Fargo & Company during the third quarter valued at about $249,000. Finally, FormulaFolio Investments LLC bought a new position in Wells Fargo & Company during the third quarter valued at about $216,000. 73.46% of the stock is owned by institutional investors and hedge funds.

Shares of Wells Fargo & Company (NYSE:WFC) traded down 1.03% on Friday, reaching $56.59. The company had a trading volume of 17,186,210 shares. The company’s 50-day moving average price is $55.36 and its 200 day moving average price is $49.93. The firm has a market capitalization of $283.86 billion, a P/E ratio of 14.18 and a beta of 0.99. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $58.02.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.04. The business had revenue of $21.60 billion for the quarter. Wells Fargo & Company had a return on equity of 12.60% and a net margin of 23.30%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. On average, analysts expect that Wells Fargo & Company will post $4.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, February 1st. This represents a $1.52 annualized dividend and a dividend yield of 2.69%. Wells Fargo & Company’s dividend payout ratio is currently 38.10%.

Several equities analysts have recently issued reports on the company. Argus lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and lifted their price target for the stock from $53.00 to $53.78 in a research report on Wednesday, January 18th. Zacks Investment Research raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, January 17th. FBR & Co reaffirmed a “market perform” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 17th. CLSA reaffirmed an “outperform” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research report on Friday, January 13th. Finally, Raymond James Financial, Inc. reaffirmed a “sell” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 11th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.64.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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