Well Done LLC Sells 394 Shares of Wells Fargo & Company (NYSE:WFC)

Well Done LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,564 shares of the financial services provider’s stock after selling 394 shares during the period. Well Done LLC’s holdings in Wells Fargo & Company were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Valued Wealth Advisors LLC raised its position in 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 valued at $37,000 after buying an additional 220 shares during the last quarter. J.Safra Asset Management Corp raised its position in Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $47,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.6 %

Shares of WFC stock traded down $0.36 on Friday, hitting $64.02. The company had a trading volume of 2,431,697 shares, compared to its average volume of 17,985,193. The firm has a market cap of $223.19 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. The stock’s 50-day moving average is $56.27 and its two-hundred day moving average is $57.94. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $64.71.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a $0.40 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.50%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were 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 directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. BMO Capital Markets boosted their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. 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. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company 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.