Trust Co. of Vermont Has $959,000 Holdings in Wells Fargo & Company $WFC

Trust Co. of Vermont boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,972 shares of the financial services provider’s stock after purchasing an additional 473 shares during the quarter. Trust Co. of Vermont’s holdings in Wells Fargo & Company were worth $959,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WFC. CBIZ Investment Advisory Services LLC raised its stake in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. Motco raised its stake in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter valued at $29,000. 1248 Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter valued at $31,000. Finally, Stone House Investment Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on WFC shares. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $87.00 to $90.00 in a research note on Monday. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Bank of America increased their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $83.74.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $80.94 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 1 year low of $54.40 and a 1 year high of $86.65. The company has a market cap of $259.28 billion, a PE ratio of 13.86, a PEG ratio of 1.29 and a beta of 1.25. The company’s 50-day moving average is $80.91 and its two-hundred day moving average is $76.15.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the prior year, the company posted $1.33 EPS. The company’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

Wells Fargo & Company Profile

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.