Washington Trust Advisors Inc. Sells 166 Shares of Wells Fargo & Company (NYSE:WFC)

Washington Trust Advisors Inc. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,818 shares of the financial services provider’s stock after selling 166 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Wells Fargo & Company were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the second quarter valued at about $26,000. Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% during the second 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. J.Safra Asset Management Corp increased its holdings in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the period. Finally, Fairscale Capital LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $47,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.9 %

Shares of NYSE:WFC opened at $70.05 on Friday. Wells Fargo & Company has a 12-month low of $40.27 and a 12-month high of $74.27. The company has a market cap of $233.23 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The stock has a 50 day moving average of $59.59 and a 200 day moving average of $58.86. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping 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 firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Announces Dividend

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. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 completion of 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 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. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’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 in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler upped their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Thirteen equities 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 company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $62.12.

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.