Wells Fargo & Company (NYSE:WFC) Shares Sold by Sentinel Trust Co. LBA

Sentinel Trust Co. LBA decreased 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 institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its stake 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. Gateway Investment Advisers LLC boosted its stake in Wells Fargo & by 1.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,698,277 shares of the financial services provider’s stock valued at $150,186,000 after buying an additional 41,531 shares in the last quarter. Banco Santander S.A. acquired a new stake in Wells Fargo & during the fourth quarter valued at about $3,173,000. Adviser Investments LLC acquired a new stake in Wells Fargo & during the first quarter valued at about $5,588,000. Finally, Mycio Wealth Partners LLC boosted its stake in Wells Fargo & by 8.4% in the first quarter. Mycio Wealth Partners LLC now owns 29,184 shares of the financial services provider’s stock valued at $1,624,000 after buying an additional 2,265 shares in the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Wells Fargo & Company (WFC) opened at 54.27 on Tuesday. The stock has a market capitalization of $269.55 billion, a P/E ratio of 13.37 and a beta of 0.95. The stock has a 50 day moving average price of $54.20 and a 200-day moving average price of $55.13. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99.

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

Wells Fargo & announced that its board has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Several analysts recently issued reports on WFC shares. Evercore ISI cut their target price on Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 12th. Credit Suisse Group reiterated an “outperform” rating and set a $40.00 target price (up previously from $36.00) on shares of Wells Fargo & in a research report on Friday, April 14th. Vetr upgraded Wells Fargo & from a “hold” rating to a “buy” rating and set a $58.06 target price for the company in a research report on Monday, March 27th. Zacks Investment Research upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Finally, BidaskClub upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & currently has a consensus rating of “Hold” and a consensus price target of $55.71.

In other news, insider Mary T. Mack sold 38,988 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $54.21, for a total value of $5,421,000.00. The disclosure for this sale can be found here. Insiders have sold 231,278 shares of company stock worth $12,361,120 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

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.