Trinity Financial Advisors LLC Has $1.32 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Trinity Financial Advisors LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,770 shares of the financial services provider’s stock after selling 5,710 shares during the period. Wells Fargo & Company accounts for 0.6% of Trinity Financial Advisors LLC’s holdings, making the stock its 23rd biggest position. Trinity Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $1,318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Northern Trust Corp increased its position in Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares during the period. Pzena Investment Management LLC grew its holdings in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after purchasing an additional 335,560 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Wells Fargo & Company by 2.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,749,883 shares of the financial services provider’s stock worth $316,660,000 after purchasing an additional 221,459 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Wells Fargo & Company by 3.9% during the 4th quarter. Van ECK Associates Corp now owns 7,379,417 shares of the financial services provider’s stock worth $363,215,000 after purchasing an additional 276,297 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after buying an additional 1,729,132 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on WFC shares. Argus raised their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.23 during trading hours on Wednesday, hitting $59.55. The company’s stock had a trading volume of 12,199,116 shares, compared to its average volume of 18,962,191. The business has a 50 day moving average price of $57.24 and a two-hundred day moving average price of $49.97. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The company has a market cap of $210.83 billion, a PE ratio of 12.43, a PEG ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.