Intrust Bank NA Sells 488 Shares of Wells Fargo & Company (NYSE:WFC)

Intrust Bank NA decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,909 shares of the financial services provider’s stock after selling 488 shares during the period. Intrust Bank NA’s holdings in Wells Fargo & Company were worth $556,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Wells Fargo & Company in the fourth quarter worth $3,365,658,000. Two Sigma Advisers LP boosted its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $117,026,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $85,031,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.97.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $70.71 on Friday. The company has a market capitalization of $230.87 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock’s 50-day simple moving average is $75.84 and its 200-day simple moving average is $70.03. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

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.