Coastline Trust Co Has $349,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Coastline Trust Co raised its holdings in Wells Fargo & Company (NYSE:WFC) by 17.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,172 shares of the financial services provider’s stock after acquiring an additional 900 shares during the quarter. Coastline Trust Co’s holdings in Wells Fargo & Company were worth $349,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Empowered Funds LLC increased its holdings in Wells Fargo & Company by 13.6% in the third quarter. Empowered Funds LLC now owns 159,820 shares of the financial services provider’s stock valued at $9,028,000 after purchasing an additional 19,114 shares during the period. Empirical Finance LLC increased its stake in shares of Wells Fargo & Company by 1.4% in the third quarter. Empirical Finance LLC now owns 127,794 shares of the financial services provider’s stock valued at $7,219,000 after buying an additional 1,751 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in shares of Wells Fargo & Company by 5.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 21,681 shares of the financial services provider’s stock worth $1,225,000 after acquiring an additional 1,202 shares during the last quarter. Connable Office Inc. raised its position in shares of Wells Fargo & Company by 0.5% during the third quarter. Connable Office Inc. now owns 64,131 shares of the financial services provider’s stock worth $3,623,000 after acquiring an additional 345 shares during the last quarter. Finally, Black Diamond Financial LLC boosted its holdings in Wells Fargo & Company by 21.0% in the third quarter. Black Diamond Financial LLC now owns 4,663 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 808 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.1 %

Shares of NYSE:WFC opened at $74.34 on Friday. The business’s 50 day moving average is $61.17 and its 200 day moving average is $59.30. Wells Fargo & Company has a 12-month low of $41.99 and a 12-month high of $74.41. The stock has a market cap of $247.51 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.55 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the business posted $1.39 earnings per share. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Analyst Ratings Changes

Several research analysts have issued reports on WFC shares. Compass Point raised their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Morgan Stanley decreased their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group cut their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.12.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 21.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.