Wells Fargo & Company (NYSE:WFC) Stake Raised by Fiduciary Trust Co

Fiduciary Trust Co boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,907 shares of the financial services provider’s stock after acquiring an additional 397 shares during the quarter. Fiduciary Trust Co’s holdings in Wells Fargo & Company were worth $2,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Wealth Partners Ltd. purchased a new position in Wells Fargo & Company in the 1st quarter worth about $201,000. Cetera Advisor Networks LLC increased its stake in Wells Fargo & Company by 0.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 351,445 shares of the financial services provider’s stock worth $20,370,000 after purchasing an additional 3,258 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Wells Fargo & Company by 5.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,544,598 shares of the financial services provider’s stock valued at $88,446,000 after acquiring an additional 86,333 shares in the last quarter. American Trust purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $217,000. Finally, Transcend Capital Advisors LLC grew its stake in Wells Fargo & Company by 4.5% during the 2nd quarter. Transcend Capital Advisors LLC now owns 52,615 shares of the financial services provider’s stock valued at $3,125,000 after acquiring an additional 2,252 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value 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 approximately $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction 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 owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WFC. Piper Sandler lifted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $63.07.

Wells Fargo & Company Stock Down 0.2 %

WFC opened at $77.21 on Friday. The stock has a market capitalization of $257.07 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.61 and a beta of 1.14. Wells Fargo & Company has a 1-year low of $42.79 and a 1-year high of $78.13. The business has a 50 day moving average of $65.08 and a 200-day moving average of $60.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

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. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $1.39 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.