GLOBALT Investments LLC GA Buys New Shares in Wells Fargo & Company (NYSE:WFC)

GLOBALT Investments LLC GA bought a new position in Wells Fargo & Company (NYSE:WFC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 102,029 shares of the financial services provider’s stock, valued at approximately $5,764,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Valued Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $47,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 54.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock valued at $51,000 after buying an additional 305 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Compass Point increased their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company Trading Up 2.1 %

Shares of Wells Fargo & Company stock opened at $74.34 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day moving average price of $61.17 and a 200 day moving average price of $59.30. The company has a market capitalization of $247.51 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.55 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $41.99 and a 1 year high of $74.41.

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 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 for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the company earned $1.39 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of the business’s 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a document filed 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 on 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 owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.