Adams Asset Advisors LLC Has $12.35 Million Position in Wells Fargo & Company (NYSE:WFC)

Adams Asset Advisors LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 175,889 shares of the financial services provider’s stock after selling 944 shares during the period. Wells Fargo & Company makes up approximately 1.6% of Adams Asset Advisors LLC’s holdings, making the stock its 15th largest position. Adams Asset Advisors LLC’s holdings in Wells Fargo & Company were worth $12,354,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter worth $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the third quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. 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, October 15th. Finally, Morgan Stanley lowered their price objective 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. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Trading Up 0.2 %

NYSE WFC traded up $0.15 during trading on Monday, reaching $70.11. 4,630,124 shares of the stock traded hands, compared to its average volume of 11,707,517. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The stock’s 50-day moving average price is $72.13 and its 200 day moving average price is $62.97. The firm has a market cap of $233.43 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.39 EPS. Analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

About Wells Fargo & Company

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.