Pathstone Holdings LLC Has $20.07 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Pathstone Holdings LLC trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,242 shares of the financial services provider’s stock after selling 19,155 shares during the period. Pathstone Holdings LLC’s holdings in Wells Fargo & Company were worth $20,068,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WFC. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Finally, Fairscale Capital LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $47,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 0.9 %

WFC stock opened at $73.43 on Wednesday. The firm has a market capitalization of $244.48 billion, a PE ratio of 15.27, a P/E/G 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 has a twelve month low of $42.15 and a twelve month high of $74.70. The stock’s 50 day moving average is $61.95 and its 200-day moving average is $59.49.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WFC shares. 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. Morgan Stanley cut their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Piper Sandler lifted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Compass Point increased their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Finally, Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.07.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’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 sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate 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.