Cambridge Trust Co. Sells 268 Shares of Wells Fargo & Company (NYSE:WFC)

Cambridge Trust Co. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,005 shares of the financial services provider’s stock after selling 268 shares during the quarter. Cambridge Trust Co.’s holdings in Wells Fargo & Company were worth $739,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the period. Studio Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the first quarter valued at about $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on WFC. Compass Point restated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday. Argus lifted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday. Finally, Piper Sandler lowered their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $58.93 on Friday. The business’s 50-day simple moving average is $55.63 and its 200 day simple moving average is $48.68. 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 $208.64 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.11 and a beta of 1.19. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $59.13.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.38%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Wells Fargo & Company Company Profile

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.