IFG Advisors LLC Has $242,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

IFG Advisors LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,277 shares of the financial services provider’s stock after selling 432 shares during the quarter. IFG Advisors LLC’s holdings in Wells Fargo & Company were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. West Oak Capital LLC lifted its stake in shares of Wells Fargo & Company by 96.8% in the third quarter. West Oak Capital LLC now owns 13,625 shares of the financial services provider’s stock valued at $770,000 after buying an additional 6,700 shares during the period. Moss Adams Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 45.4% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 10,708 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 3,344 shares during the period. Net Worth Advisory Group acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $865,000. Inspire Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $299,000. Finally, Aspiriant LLC raised its stake in shares of Wells Fargo & Company by 4.2% in the third quarter. Aspiriant LLC now owns 24,430 shares of the financial services provider’s stock valued at $1,380,000 after purchasing an additional 977 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $64.37 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $224.41 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company’s 50 day simple moving average is $56.50 and its 200-day simple moving average is $57.99. Wells Fargo & Company has a one year low of $38.58 and a one year high of $64.78.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. The firm 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 12.30% and a net margin of 15.17%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.39 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Ratings Changes

Several equities research analysts have issued reports on WFC shares. BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their target price 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. 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 report on Tuesday. Morgan Stanley decreased 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. Finally, Piper Sandler increased their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.82.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s 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 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated 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 $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 in the company, valued at $7,853,327.13. The trade was 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.

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.