First Financial Bank Trust Division Has $1.61 Million Stock Holdings in Wells Fargo & Company $WFC

First Financial Bank Trust Division cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,110 shares of the financial services provider’s stock after selling 581 shares during the period. First Financial Bank Trust Division’s holdings in Wells Fargo & Company were worth $1,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after purchasing an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after purchasing an additional 7,894,919 shares during the period. Boston Partners raised its position in shares of Wells Fargo & Company by 6.2% during the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after purchasing an additional 523,107 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Wells Fargo & Company by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock valued at $431,418,000 after buying an additional 544,473 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after buying an additional 1,365,629 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $81.46 on Friday. The business’s 50-day moving average price is $80.38 and its two-hundred day moving average price is $75.16. 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 one year low of $51.75 and a one year high of $84.83. The company has a market capitalization of $260.95 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.26 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating 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 firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent analyst reports. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Morgan Stanley upped their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Truist Financial upped 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, Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.56.

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.