Wells Fargo & Company (NYSE:WFC) EVP Sells $2,169,650.00 in Stock

Wells Fargo & Company (NYSE:WFC) EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wells Fargo & Company Price Performance

Shares of WFC opened at $64.38 on Friday. The company has a market cap of $224.45 billion, a P/E ratio of 13.22, 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 $64.71. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average price is $56.27 and its 200 day moving average price is $57.94.

Wells Fargo & Company (NYSE:WFC) last posted 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 the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.39 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday. Keefe, Bruyette & Woods decreased their price objective 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. Piper Sandler raised their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a research note on Tuesday. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $61.82.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter worth approximately $299,000. Aspiriant LLC lifted its position in shares of Wells Fargo & Company by 4.2% during the 3rd quarter. Aspiriant LLC now owns 24,430 shares of the financial services provider’s stock worth $1,380,000 after purchasing an additional 977 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 24.2% during the third quarter. Aaron Wealth Advisors LLC now owns 17,766 shares of the financial services provider’s stock worth $1,004,000 after purchasing an additional 3,466 shares in the last quarter. Stonegate Investment Group LLC increased its holdings in Wells Fargo & Company by 7.0% in the third quarter. Stonegate Investment Group LLC now owns 45,433 shares of the financial services provider’s stock valued at $2,567,000 after buying an additional 2,954 shares during the last quarter. Finally, Claro Advisors LLC raised its stake in Wells Fargo & Company by 15.6% in the third quarter. Claro Advisors LLC now owns 16,109 shares of the financial services provider’s stock valued at $910,000 after buying an additional 2,173 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

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.