Catalina Capital Group LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Catalina Capital Group LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 1.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,886 shares of the financial services provider’s stock after purchasing an additional 168 shares during the period. Catalina Capital Group LLC’s holdings in Wells Fargo & Company were worth $558,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Income Research & Management purchased a new position in Wells Fargo & Company in the third quarter valued at about $211,000. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter valued at $26,000. Valued Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Ather Williams III sold 60,000 shares of the firm’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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WFC shares. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Compass Point increased their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group cut their target price 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. Phillip Securities raised 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 report on Tuesday, October 15th. Finally, Piper Sandler raised their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $62.12.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $64.07 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $40.27 and a one year high of $66.39. The business’s 50-day moving average price is $58.80 and its two-hundred day moving average price is $58.62. The company has a market capitalization of $218.08 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14.

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 for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued 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 2.50%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.