MQS Management LLC Sells 2,154 Shares of Wells Fargo & Company (NYSE:WFC)

MQS Management LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,836 shares of the financial services provider’s stock after selling 2,154 shares during the quarter. MQS Management LLC’s holdings in Wells Fargo & Company were worth $443,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WFC. Koshinski Asset Management Inc. purchased a new stake in Wells Fargo & Company during the 1st quarter valued at approximately $577,000. TBH Global Asset Management LLC grew its stake in Wells Fargo & Company by 19.1% in the 1st quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 1,022 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Wells Fargo & Company by 25.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 80,161 shares of the financial services provider’s stock valued at $4,646,000 after purchasing an additional 16,492 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Wells Fargo & Company by 4.2% during the first quarter. Orion Portfolio Solutions LLC now owns 134,127 shares of the financial services provider’s stock worth $7,774,000 after buying an additional 5,388 shares during the period. Finally, Leo Wealth LLC boosted its holdings in shares of Wells Fargo & Company by 5.3% in the 1st quarter. Leo Wealth LLC now owns 4,747 shares of the financial services provider’s stock valued at $275,000 after buying an additional 241 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $72.79 on Thursday. Wells Fargo & Company has a one year low of $41.46 and a one year high of $74.27. The company has a market capitalization of $242.35 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company’s fifty day moving average price is $60.15 and its 200 day moving average price is $59.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.39 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 yield of 2.20%. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WFC shares. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Morgan Stanley dropped their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.