Wells Fargo & Company (NYSE:WFC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Wells Fargo & Company (NYSE:WFC) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,027,696 shares of the financial services provider’s stock after buying an additional 131,322 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wells Fargo & Company were worth $58,055,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WFC. CreativeOne Wealth LLC raised its position in shares of Wells Fargo & Company by 51.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,637 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 3,285 shares in the last quarter. Bridgewater Associates LP increased its stake in Wells Fargo & Company by 75.3% in the third quarter. Bridgewater Associates LP now owns 1,409,035 shares of the financial services provider’s stock valued at $79,596,000 after purchasing an additional 605,146 shares during the last quarter. Cynosure Group LLC raised its holdings in Wells Fargo & Company by 101.7% during the third quarter. Cynosure Group LLC now owns 107,158 shares of the financial services provider’s stock worth $6,053,000 after purchasing an additional 54,026 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in shares of Wells Fargo & Company by 44.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 9,544 shares of the financial services provider’s stock valued at $540,000 after buying an additional 2,940 shares in the last quarter. Finally, Avestar Capital LLC grew its position in shares of Wells Fargo & Company by 3.2% in the 3rd quarter. Avestar Capital LLC now owns 38,051 shares of the financial services provider’s stock valued at $2,150,000 after buying an additional 1,180 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.2 %

Wells Fargo & Company stock opened at $77.17 on Thursday. The stock’s 50 day moving average price is $64.65 and its 200 day moving average price is $60.13. Wells Fargo & Company has a 1-year low of $42.79 and a 1-year high of $78.13. The company has a market cap of $256.94 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. 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 issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS 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 for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Compass Point boosted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Wolfe Research upgraded 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. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.07.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s 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 in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were 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 directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wells Fargo & 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.