Trustmark National Bank Trust Department Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Trustmark National Bank Trust Department grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,807 shares of the financial services provider’s stock after buying an additional 324 shares during the period. Trustmark National Bank Trust Department’s holdings in Wells Fargo & Company were worth $337,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WFC. Clearstead Trust LLC raised its stake in shares of Wells Fargo & Company by 13.0% during the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 186 shares during the period. Fruth Investment Management raised its stake in shares of Wells Fargo & Company by 3.2% during the 1st quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 200 shares during the period. Lazari Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 202 shares during the period. Webster Bank N. A. raised its stake in shares of Wells Fargo & Company by 2.0% during the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 202 shares during the period. Finally, First Financial Corp IN raised its stake in shares of Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Argus upped their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. upped their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group upped their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.31.

Wells Fargo & Company Trading Up 0.9 %

NYSE WFC traded up $0.53 on Tuesday, hitting $59.67. The company’s stock had a trading volume of 5,906,927 shares, compared to its average volume of 18,363,660. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company’s 50-day simple moving average is $59.29 and its 200 day simple moving average is $56.30. The firm has a market cap of $208.03 billion, a P/E ratio of 12.28, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter last year, the business posted $1.25 EPS. The business’s revenue was up .8% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

Wells Fargo & Company Profile

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.