Trust Co. of Toledo NA OH Sells 1,058 Shares of Wells Fargo & Company (NYSE:WFC)

Trust Co. of Toledo NA OH decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,735 shares of the financial services provider’s stock after selling 1,058 shares during the period. Trust Co. of Toledo NA OH’s holdings in Wells Fargo & Company were worth $1,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of WFC. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth $25,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter worth $26,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded up $0.22 during mid-day trading on Monday, reaching $70.18. The company’s stock had a trading volume of 2,065,078 shares, compared to its average volume of 11,322,882. The stock has a market cap of $233.66 billion, a PE ratio of 14.59, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company’s 50 day moving average is $72.13 and its two-hundred day moving average is $62.97.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.92.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

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.