Sentinel Trust Co. LBA Decreases Position in Wells Fargo & Company (WFC)

Sentinel Trust Co. LBA cut its stake in Wells Fargo & Company (NYSE:WFC) by 0.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,902 shares of the financial services provider’s stock after selling 137 shares during the period. Sentinel Trust Co. LBA’s holdings in Wells Fargo & were worth $3,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox acquired a new stake in shares of Wells Fargo & during the fourth quarter valued at about $3,942,119,000. Norges Bank bought a new position in Wells Fargo & during the fourth quarter valued at approximately $2,800,566,000. Canada Pension Plan Investment Board raised its position in Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after buying an additional 3,637,100 shares in the last quarter. AQR Capital Management LLC raised its position in Wells Fargo & by 44.7% in the fourth quarter. AQR Capital Management LLC now owns 9,439,158 shares of the financial services provider’s stock valued at $520,192,000 after buying an additional 2,916,320 shares in the last quarter. Finally, Empire Life Investments Inc. bought a new stake in shares of Wells Fargo & during the fourth quarter valued at about $93,948,000. 76.05% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company (WFC) traded down 0.23% during mid-day trading on Friday, hitting $51.68. The stock had a trading volume of 17,130,641 shares. The stock has a 50 day moving average of $54.06 and a 200-day moving average of $54.86. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99. The firm has a market cap of $256.54 billion, a P/E ratio of 12.73 and a beta of 0.95. Wells Fargo & also was the recipient of some unusual options trading on Thursday. Investors bought 27,464 put options on the company. This represents an increase of 155% compared to the typical daily volume of 10,758 put options.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. Analysts predict that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio is 38.42%.

Wells Fargo & declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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Several analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods set a $62.00 price objective on shares of Wells Fargo & and gave the company a “buy” rating in a report on Friday, May 19th. Vetr upgraded shares of Wells Fargo & from a “hold” rating to a “buy” rating and set a $57.21 price target on the stock in a research note on Wednesday, May 10th. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Instinet reissued a “buy” rating and set a $64.00 price objective on shares of Wells Fargo & in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of Wells Fargo & in a report on Friday, July 28th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.87.

In related news, insider Mary T. Mack sold 38,988 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $52.58, for a total transaction of $2,049,989.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Petros G. Pelos sold 24,708 shares of Wells Fargo & stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total value of $1,335,961.56. The disclosure for this sale can be found here. In the last three months, insiders sold 131,278 shares of company stock worth $6,940,120. 0.22% of the stock is currently owned by company insiders.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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