Catalyst Capital Advisors LLC Buys Shares of 2,824 Wells Fargo & Company (NYSE:WFC)

Catalyst Capital Advisors LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, Holdings Channel.com reports. The fund purchased 2,824 shares of the financial services provider’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds have also modified their holdings of WFC. Avidian Wealth Solutions LLC boosted its stake in shares of Wells Fargo & Company by 31.8% in the 1st quarter. Avidian Wealth Solutions LLC now owns 6,027 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 1,455 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Wells Fargo & Company by 3.3% during the first quarter. Geneos Wealth Management Inc. now owns 41,699 shares of the financial services provider’s stock worth $2,417,000 after buying an additional 1,345 shares during the last quarter. Cohen Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 32.3% during the first quarter. Cohen Capital Management Inc. now owns 10,946 shares of the financial services provider’s stock worth $634,000 after buying an additional 2,672 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Wells Fargo & Company by 36.3% in the 1st quarter. Advisory Services Network LLC now owns 101,071 shares of the financial services provider’s stock valued at $5,858,000 after acquiring an additional 26,895 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Wells Fargo & Company by 3.2% during the 1st quarter. Empirical Finance LLC now owns 137,747 shares of the financial services provider’s stock valued at $7,984,000 after acquiring an additional 4,335 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.6 %

NYSE:WFC opened at $64.07 on Wednesday. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $66.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $218.08 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.46 and a beta of 1.14. The firm has a fifty day simple moving average of $58.80 and a two-hundred day simple moving average of $58.62.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.12.

View Our Latest Analysis on Wells Fargo & Company

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were 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 owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Wells Fargo & Company 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 transaction of $2,169,650.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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