Haverford Trust Co Acquires 692 Shares of Wells Fargo & Company (NYSE:WFC)

Haverford Trust Co increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,565 shares of the financial services provider’s stock after buying an additional 692 shares during the quarter. Haverford Trust Co’s holdings in Wells Fargo & Company were worth $3,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Koshinski Asset Management Inc. bought a new position in Wells Fargo & Company in the first quarter valued at about $577,000. TBH Global Asset Management LLC raised its position in Wells Fargo & Company by 19.1% in the first quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 1,022 shares during the last quarter. Kingsview Wealth Management LLC raised its position in Wells Fargo & Company by 25.9% in the first quarter. Kingsview Wealth Management LLC now owns 80,161 shares of the financial services provider’s stock valued at $4,646,000 after purchasing an additional 16,492 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Wells Fargo & Company by 4.2% in the first quarter. Orion Portfolio Solutions LLC now owns 134,127 shares of the financial services provider’s stock valued at $7,774,000 after purchasing an additional 5,388 shares during the last quarter. Finally, Leo Wealth LLC raised its position in Wells Fargo & Company by 5.3% in the first quarter. Leo Wealth LLC now owns 4,747 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 241 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. 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. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley decreased their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Finally, Piper Sandler increased their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.12.

Insider Activity

In other 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 0.3 %

Shares of NYSE:WFC opened at $72.79 on Thursday. The business’s 50 day simple moving average is $60.15 and its two-hundred day simple moving average is $59.01. The firm has a market cap of $242.35 billion, a P/E ratio of 15.13, a PEG ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 52-week low of $41.46 and a 52-week high of $74.27.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.42 EPS 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. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is presently 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.