Indiana Trust & Investment Management CO Has $325,000 Stake in Wells Fargo & Company (NYSE:WFC)


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Indiana Trust & Investment Management CO reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 18.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,318 shares of the financial services provider’s stock after selling 1,913 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Wells Fargo & Company were worth $325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SOL Capital Management CO lifted its holdings in Wells Fargo & Company by 8.0% in the fourth quarter. SOL Capital Management CO now owns 68,338 shares of the financial services provider’s stock valued at $2,062,000 after buying an additional 5,079 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Wells Fargo & Company by 210.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 3,176,880 shares of the financial services provider’s stock valued at $95,878,000 after buying an additional 2,154,160 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Wells Fargo & Company by 12.6% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 149,621 shares of the financial services provider’s stock valued at $4,516,000 after buying an additional 16,800 shares during the period. Snow Capital Management LP bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $1,455,000. Finally, Hardy Reed LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 67.25% of the company’s stock.

WFC has been the subject of several recent analyst reports. DA Davidson upped their target price on shares of Wells Fargo & Company from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, January 19th. Seaport Global Securities raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, January 19th. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 18th. Raymond James increased their price objective on shares of Wells Fargo & Company from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 3rd. Finally, Credit Suisse Group raised shares of Wells Fargo & Company from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $35.00 to $40.00 in a research report on Monday, January 25th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $35.00.

WFC traded down $0.20 during trading on Thursday, hitting $39.79. The stock had a trading volume of 445,879 shares, compared to its average volume of 35,688,645. The company has a 50 day moving average price of $38.49 and a 200-day moving average price of $30.39. The firm has a market cap of $164.50 billion, a price-to-earnings ratio of 108.08, a P/E/G ratio of 4.84 and a beta of 1.07. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $20.76 and a one year high of $41.54.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Thursday, January 14th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $17.93 billion during the quarter, compared to the consensus estimate of $18 billion. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, February 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. Wells Fargo & Company’s payout ratio is 9.13%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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