Sather Financial Group Inc Has $534,000 Stake in Wells Fargo & Company (NYSE:WFC)

Sather Financial Group Inc lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 34.6% during the third quarter, Holdings Channel reports. The fund owned 9,451 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Sather Financial Group Inc’s holdings in Wells Fargo & Company were worth $534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Seizert Capital Partners LLC increased its position in Wells Fargo & Company by 2.7% in the 3rd quarter. Seizert Capital Partners LLC now owns 786,498 shares of the financial services provider’s stock valued at $44,429,000 after buying an additional 20,745 shares in the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 18.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 6,123 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 935 shares in the last quarter. RIA Advisory Group LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $1,201,000. Coastline Trust Co lifted its holdings in shares of Wells Fargo & Company by 17.1% in the 3rd quarter. Coastline Trust Co now owns 6,172 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 900 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Wells Fargo & Company by 13.6% in the 3rd quarter. Empowered Funds LLC now owns 159,820 shares of the financial services provider’s stock valued at $9,028,000 after purchasing an additional 19,114 shares during the period. 75.90% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % 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.

Wells Fargo & Company Stock Up 2.1 %

NYSE WFC opened at $74.34 on Friday. Wells Fargo & Company has a 52 week low of $41.99 and a 52 week high of $74.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $247.51 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. The stock’s 50-day moving average price is $61.17 and its 200-day moving average price is $59.30.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Morgan Stanley decreased their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.