Brandywine Trust Co. Sells 15,300 Shares of Wells Fargo & Company $WFC

Key Points

• Brandywine Trust Co. has reduced its stake in Wells Fargo & Company by 6.8%, selling 15,300 shares, which leaves its total holdings at 210,138 shares valued at approximately $15.1 million.
• Wells Fargo's stock recently showed a price decline of 1.6%, with current trading at $80.51 and a 1-year price range between $50.22 and $84.83.
• The company has increased its dividend from $0.40 to $0.45 per share, representing a 2.2% yield, as part of its financial strategy to reward shareholders.

Brandywine Trust Co. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,138 shares of the financial services provider's stock after selling 15,300 shares during the period. Wells Fargo & Company accounts for 2.3% of Brandywine Trust Co.'s portfolio, making the stock its 7th largest position. Brandywine Trust Co.'s holdings in Wells Fargo & Company were worth $15,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Safeguard Investment Advisory Group LLC raised its position in shares of Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after acquiring an additional 137 shares during the last quarter. Summit Wealth & Retirement Planning Inc. raised its holdings in Wells Fargo & Company by 4.3% during the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock worth $241,000 after purchasing an additional 139 shares during the last quarter. Nwam LLC raised its holdings in Wells Fargo & Company by 1.6% during the 1st quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after purchasing an additional 142 shares during the last quarter. PGIM Custom Harvest LLC lifted its position in Wells Fargo & Company by 3.5% during the 1st quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider's stock valued at $303,000 after purchasing an additional 142 shares during the period. Finally, Tradition Wealth Management LLC grew its position in shares of Wells Fargo & Company by 0.5% during the 1st quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider's stock worth $2,184,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Bank of America lifted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, TD Cowen began coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Stock Down 1.6%

NYSE:WFC opened at $80.51 on Thursday. Wells Fargo & Company has a 1 year low of $50.22 and a 1 year high of $84.83. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock has a market cap of $257.89 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.28 and a beta of 1.25. The stock has a 50-day moving average price of $80.51 and a two-hundred day moving average price of $75.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter last year, the firm posted $1.33 earnings per share. Wells Fargo & Company's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect 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. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company's payout ratio is currently 30.82%.

About Wells Fargo & Company

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.

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