FARMERS & MERCHANTS TRUST Co OF LONG BEACH Reduces Position in Wells Fargo & Company (NYSE:WFC)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its position in Wells Fargo & Company (NYSE:WFC) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,103 shares of the financial services provider’s stock after selling 902 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Wells Fargo & Company were worth $1,281,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company in the 4th quarter valued at $29,000. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at $25,000. Finally, Transcendent Capital Group LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.6 %

Shares of NYSE WFC traded down $0.35 during mid-day trading on Tuesday, reaching $60.24. 2,223,728 shares of the company were exchanged, compared to its average volume of 18,403,943. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market cap of $210.02 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm has a 50-day moving average of $59.55 and a 200 day moving average of $55.15.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the business posted $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Jefferies Financial Group upped their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI upped their price objective on Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $59.15.

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.