Addison Capital Co Sells 3,219 Shares of Wells Fargo & Company (NYSE:WFC)

Addison Capital Co lessened its position in Wells Fargo & Company (NYSE:WFC) by 44.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,006 shares of the financial services provider’s stock after selling 3,219 shares during the quarter. Addison Capital Co’s holdings in Wells Fargo & Company were worth $226,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WFC. Massmutual Trust Co. FSB ADV increased its holdings in shares of Wells Fargo & Company by 1.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,756 shares of the financial services provider’s stock worth $1,261,000 after purchasing an additional 266 shares during the period. Banque Cantonale Vaudoise increased its holdings in shares of Wells Fargo & Company by 7.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 40,406 shares of the financial services provider’s stock worth $2,342,000 after purchasing an additional 2,955 shares during the period. SOA Wealth Advisors LLC. increased its holdings in shares of Wells Fargo & Company by 79.6% during the 1st quarter. SOA Wealth Advisors LLC. now owns 2,978 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 1,320 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Wells Fargo & Company by 14.2% during the 1st quarter. Park Avenue Securities LLC now owns 71,737 shares of the financial services provider’s stock worth $4,158,000 after purchasing an additional 8,899 shares during the period. Finally, Aprio Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 13.9% during the 1st quarter. Aprio Wealth Management LLC now owns 5,710 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 696 shares during the period. Institutional investors own 75.90% of the company’s stock.

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $64.48 on Friday. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $64.71. The firm’s 50 day moving average is $56.27 and its 200-day moving average is $57.94. The firm has a market capitalization of $224.80 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. 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 prior year, the business earned $1.39 earnings per share. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Wall Street Analyst Weigh In

WFC has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group cut shares of 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. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday. Finally, Piper Sandler upped their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday. 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $61.82.

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.