Wells Fargo & Company (NYSE:WFC) Position Reduced by Peoples Bank KS

Peoples Bank KS reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,789 shares of the financial services provider’s stock after selling 1,120 shares during the quarter. Wells Fargo & Company accounts for 2.1% of Peoples Bank KS’s portfolio, making the stock its 10th largest position. Peoples Bank KS’s holdings in Wells Fargo & Company were worth $3,005,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Investors Research Corp lifted its position in Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 160 shares in the last quarter. Ellenbecker Investment Group lifted its position in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares in the last quarter. Income Research & Management purchased a new position in shares of Wells Fargo & Company in the third quarter valued at $211,000. Modera Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares during the period. Finally, Catalina Capital Group LLC grew its holdings in Wells Fargo & Company by 1.7% during the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial began coverage on Wells Fargo & Company in a research note on Tuesday. They set a “buy” rating and a $82.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $69.24.

Wells Fargo & Company Stock Down 0.6 %

NYSE:WFC opened at $71.60 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average of $71.77 and a 200-day moving average of $62.69. The firm has a market capitalization of $238.39 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping 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 firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the business earned $1.39 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Activity at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.