Wells Fargo & Company (NYSE:WFC) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 165,667 shares of the financial services provider’s stock after selling 1,291 shares during the quarter. Metis Global Partners LLC’s holdings in Wells Fargo & Company were worth $9,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Koshinski Asset Management Inc. purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth approximately $577,000. TBH Global Asset Management LLC increased its position in Wells Fargo & Company by 19.1% during the first quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,022 shares in the last quarter. Kingsview Wealth Management LLC increased its position in Wells Fargo & Company by 25.9% during the first quarter. Kingsview Wealth Management LLC now owns 80,161 shares of the financial services provider’s stock worth $4,646,000 after buying an additional 16,492 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of 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 worth $7,774,000 after acquiring an additional 5,388 shares during the last quarter. Finally, Leo Wealth LLC lifted its position in shares of 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 acquiring an additional 241 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.3 %

NYSE:WFC opened at $72.99 on Thursday. The business’s 50-day moving average is $60.45 and its two-hundred day moving average is $59.11. The firm has a market capitalization of $243.02 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. Wells Fargo & Company has a 12 month low of $41.99 and a 12 month high of $74.27. 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 (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 firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 EPS. Research analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 of the company’s stock, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 completion of the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $62.12.

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.