Trust Co. of Vermont Invests $837,000 in Wells Fargo & Company $WFC

Trust Co. of Vermont bought a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,126 shares of the financial services provider’s stock, valued at approximately $837,000.

Other large investors have also bought and sold shares of the company. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Navalign LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth about $26,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company during the 4th quarter worth about $28,000. Finally, Phillip James Consulting Co. bought a new stake in Wells Fargo & Company during the 1st quarter worth about $28,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on WFC shares. UBS Group lowered their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Robert W. Baird raised their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Truist Financial raised their price target on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $83.83 on Friday. The stock has a market capitalization of $253.50 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $86.08 and a two-hundred day moving average price of $82.97.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. Equities analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s payout ratio is presently 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.