First Bancorp Inc ME Has $458,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

First Bancorp Inc ME reduced its stake in Wells Fargo & Company (NYSE:WFC) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,116 shares of the financial services provider’s stock after selling 390 shares during the period. First Bancorp Inc ME’s holdings in Wells Fargo & Company were worth $458,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Ellenbecker Investment Group raised its position in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 164 shares during the period. John W. Brooker & Co. CPAs raised its holdings in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares during the period. McAdam LLC lifted its stake in Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares during the last quarter. Eclectic Associates Inc. ADV grew its holdings in Wells Fargo & Company by 1.2% during the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 178 shares during the period. Finally, Prentice Wealth Management LLC increased its position in Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after buying an additional 184 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded down $0.02 on Friday, hitting $64.36. 19,234,041 shares of the company traded hands, compared to its average volume of 18,069,352. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $64.78. The firm’s 50-day simple moving average is $56.50 and its 200 day simple moving average is $57.99. The company has a market cap of $224.38 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. Analysts expect 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 announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.49%. 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 32.85%.

Insider Buying and Selling at Wells Fargo & Company

In other 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 value of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the 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 sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFC. BMO Capital Markets increased their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upgraded 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. Compass Point upped their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $61.82.

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.