Diversified Trust Co Decreases Stock Position in Wells Fargo & Company $WFC

Key Points

• Diversified Trust Co reduced its holdings in Wells Fargo & Company by 22.6% in Q2, selling 7,808 shares and now owns 26,779 shares worth approximately $2.15 million.
• Wells Fargo reported a Q2 EPS of $1.54, exceeding analyst expectations of $1.41, and achieved a revenue of $20.82 billion.
• The company declared a quarterly dividend increase from $0.40 to $0.45, yielding an annualized 2.1% with a payout ratio of 30.82%.

Diversified Trust Co lowered its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 22.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,779 shares of the financial services provider's stock after selling 7,808 shares during the period. Diversified Trust Co's holdings in Wells Fargo & Company were worth $2,146,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WFC. CBIZ Investment Advisory Services LLC raised its stake in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 322 shares during the period. Motco grew its stake in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after buying an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $29,000. 1248 Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $31,000. Finally, Stone House Investment Management LLC purchased a new position in Wells Fargo & Company in the 1st quarter worth approximately $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WFC shares. Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Bank of America boosted their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Truist Financial raised their price target on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.53 during mid-day trading on Monday, reaching $85.17. 14,543,087 shares of the company were exchanged, compared to its average volume of 16,968,656. The company has a fifty day simple moving average of $80.44 and a 200-day simple moving average of $75.40. The firm has a market cap of $272.85 billion, a PE ratio of 14.58, a PEG ratio of 1.31 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 12 month low of $53.31 and a 12 month high of $85.28.

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 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $20.83 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. 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. Wells Fargo & Company's dividend payout ratio is 30.82%.

Wells Fargo & 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.