PICTET BANK & TRUST Ltd Acquires 12,500 Shares of Wells Fargo & Company (NYSE:WFC)

PICTET BANK & TRUST Ltd raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 110,480 shares of the financial services provider’s stock after buying an additional 12,500 shares during the period. Wells Fargo & Company comprises about 1.9% of PICTET BANK & TRUST Ltd’s portfolio, making the stock its 15th largest holding. PICTET BANK & TRUST Ltd’s holdings in Wells Fargo & Company were worth $6,122,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. C WorldWide Group Holding A S lifted its holdings in Wells Fargo & Company by 11.8% in the first quarter. C WorldWide Group Holding A S now owns 5,314,670 shares of the financial services provider’s stock valued at $295,814,000 after acquiring an additional 559,931 shares during the last quarter. Webster Bank N. A. increased its position in shares of Wells Fargo & Company by 2.5% during the first quarter. Webster Bank N. A. now owns 49,707 shares of the financial services provider’s stock worth $2,766,000 after acquiring an additional 1,190 shares during the period. Eads & Heald Investment Counsel increased its position in shares of Wells Fargo & Company by 7.3% during the first quarter. Eads & Heald Investment Counsel now owns 27,578 shares of the financial services provider’s stock worth $1,535,000 after acquiring an additional 1,870 shares during the period. APG Asset Management N.V. increased its position in shares of Wells Fargo & Company by 10.1% during the first quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock worth $384,376,000 after acquiring an additional 635,436 shares during the period. Finally, Grimes & Company Inc. increased its holdings in Wells Fargo & Company by 15.8% in the first quarter. Grimes & Company Inc. now owns 7,428 shares of the financial services provider’s stock valued at $413,000 after buying an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 75.77% of the company’s stock.

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods restated a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, August 16th. Goldman Sachs Group reissued a “buy” rating on shares of Wells Fargo & Company in a report on Wednesday, October 11th. Vetr raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $54.49 target price for the company in a report on Tuesday, October 24th. Vertical Group began coverage on shares of Wells Fargo & Company in a report on Friday, October 6th. They issued a “sell” rating for the company. Finally, Credit Suisse Group reissued a “hold” rating and set a $57.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, October 10th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.25.

Wells Fargo & Company (NYSE:WFC) traded up $0.20 during midday trading on Wednesday, hitting $58.75. 10,456,027 shares of the stock traded hands, compared to its average volume of 18,320,225. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market cap of $289,120.00, a price-to-earnings ratio of 13.86, a PEG ratio of 1.38 and a beta of 0.96. Wells Fargo & Company has a 1-year low of $49.27 and a 1-year high of $59.99.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. equities research analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.66%. Wells Fargo & Company’s payout ratio is currently 40.31%.

In other news, insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Levy sold 97,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

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Wells Fargo & Company 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.

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

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