Beurden Saul Van Sells 35,000 Shares of Wells Fargo & Company (NYSE:WFC) Stock

Wells Fargo & Company (NYSE:WFC) EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wells Fargo & Company Trading Up 1.3 %

Shares of Wells Fargo & Company stock opened at $63.86 on Thursday. The firm has a market capitalization of $222.64 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $64.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50 day moving average of $56.04 and a 200 day moving average of $57.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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 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 12.30% and a net margin of 15.17%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.39 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.51%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Institutional Trading of Wells Fargo & Company

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cardinal Capital Management Inc. boosted its holdings in Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after purchasing an additional 11,037 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after buying an additional 1,835 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after buying an additional 21,496 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after purchasing an additional 106,260 shares during the period. Finally, FORVIS Wealth Advisors LLC boosted its position in Wells Fargo & Company by 154.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock worth $1,578,000 after purchasing an additional 16,515 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on WFC. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday. Evercore ISI upped their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group reduced their price target on 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.82.

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.