Greenleaf Trust Purchases 9,992 Shares of Wells Fargo & Co (WFC)

Greenleaf Trust grew its stake in shares of Wells Fargo & Co (NYSE:WFC) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,057 shares of the financial services provider’s stock after acquiring an additional 9,992 shares during the quarter. Greenleaf Trust’s holdings in Wells Fargo & Co were worth $3,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Kessler Investment Group LLC grew its position in Wells Fargo & Co by 2.3% in the second quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock valued at $2,144,000 after acquiring an additional 875 shares in the last quarter. Community Trust & Investment Co. grew its position in Wells Fargo & Co by 13.1% in the second quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 894 shares in the last quarter. Copperwynd Financial LLC grew its position in Wells Fargo & Co by 15.7% in the second quarter. Copperwynd Financial LLC now owns 6,648 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 900 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in shares of Wells Fargo & Co by 2.8% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 33,937 shares of the financial services provider’s stock valued at $1,881,000 after buying an additional 909 shares during the last quarter. Finally, Cypress Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Co by 9.8% during the 1st quarter. Cypress Wealth Advisors LLC now owns 10,221 shares of the financial services provider’s stock valued at $536,000 after buying an additional 916 shares during the last quarter. 75.76% of the stock is owned by institutional investors.

WFC opened at $55.00 on Friday. The company has a market cap of $279.89 billion, a PE ratio of 13.38, a PEG ratio of 1.55 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. Wells Fargo & Co has a 1 year low of $50.26 and a 1 year high of $66.31.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). The firm had revenue of $21.55 billion for the quarter, compared to the consensus estimate of $21.52 billion. Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. research analysts predict that Wells Fargo & Co will post 4.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Friday, August 10th were paid a $0.43 dividend. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $1.72 annualized dividend and a yield of 3.13%. Wells Fargo & Co’s payout ratio is currently 41.85%.

WFC has been the subject of several research analyst reports. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Saturday, July 7th. Morgan Stanley cut their target price on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, July 16th. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Macquarie lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $63.34.

In related news, EVP Avid Modjtabai sold 100,000 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Hope A. Hardison sold 25,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the sale, the executive vice president now directly owns 109 shares in the company, valued at approximately $6,323.09. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

See Also: Hedge Funds

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

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