Citizens National Bank Trust Department Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Citizens National Bank Trust Department decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,627 shares of the financial services provider’s stock after selling 2,200 shares during the quarter. Citizens National Bank Trust Department’s holdings in Wells Fargo & Company were worth $1,391,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WFC. Canoe Financial LP purchased a new position in Wells Fargo & Company in the 3rd quarter worth about $160,529,000. Marshall Wace LLP increased its position in shares of Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after purchasing an additional 2,404,898 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. Rokos Capital Management LLP increased its position in shares of Wells Fargo & Company by 141.6% during the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after purchasing an additional 1,536,152 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & Company by 38.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after purchasing an additional 1,415,647 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.4 %

Shares of WFC opened at $64.68 on Monday. The stock has a market capitalization of $220.16 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $39.39 and a 1 year high of $66.39. The business’s 50 day simple moving average is $58.50 and its 200-day simple moving average is $58.56. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.47%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Insider Activity at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and cut their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.12.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.