ST Germain D J Co. Inc. Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

ST Germain D J Co. Inc. increased its position in Wells Fargo & Company (NYSE:WFC) by 0.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 311,074 shares of the financial services provider’s stock after buying an additional 541 shares during the quarter. Wells Fargo & Company comprises 1.0% of ST Germain D J Co. Inc.’s holdings, making the stock its 24th largest position. ST Germain D J Co. Inc.’s holdings in Wells Fargo & Company were worth $21,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WFC. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the second quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wells Fargo & Company

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

Wells Fargo & Company Stock Performance

NYSE WFC traded down $1.87 on Friday, hitting $69.70. The stock had a trading volume of 4,824,618 shares, compared to its average volume of 11,265,880. The company’s 50-day moving average is $72.02 and its two-hundred day moving average is $62.82. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The stock has a market cap of $232.07 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the firm earned $1.39 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WFC shares. Truist Financial started coverage on shares of Wells Fargo & Company in a research note on Tuesday. They issued a “buy” rating and a $82.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.92.

Wells Fargo & Company 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.