Wells Fargo & Company (NYSE:WFC) Shares Sold by WP Advisors LLC

WP Advisors LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 18.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,961 shares of the financial services provider’s stock after selling 3,341 shares during the period. WP Advisors LLC’s holdings in Wells Fargo & Company were worth $845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Trustmark National Bank Trust Department increased its holdings in shares of Wells Fargo & Company by 5.9% during the 1st quarter. Trustmark National Bank Trust Department now owns 5,807 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 324 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new position in shares of Wells Fargo & Company in the first quarter worth about $3,060,000. Lake Street Advisors Group LLC boosted its stake in shares of Wells Fargo & Company by 98.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 24,921 shares of the financial services provider’s stock worth $1,444,000 after acquiring an additional 12,394 shares in the last quarter. Oxford Financial Group LTD. LLC boosted its position in Wells Fargo & Company by 7.4% during the first quarter. Oxford Financial Group LTD. LLC now owns 5,115 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 354 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Wells Fargo & Company by 76.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,679,000 shares of the financial services provider’s stock valued at $97,315,000 after buying an additional 730,000 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and decreased their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a report 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $62.12.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $74.34 on Monday. The business has a 50-day moving average of $61.17 and a two-hundred day moving average of $59.30. The firm has a market capitalization of $247.51 billion, a PE ratio of 15.46, a P/E/G ratio of 1.55 and a beta of 1.14. 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 has a 12 month low of $41.99 and a 12 month high of $74.41.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

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.