Wells Fargo & Company (NYSE:WFC) Holdings Lowered by Hancock Whitney Corp

Hancock Whitney Corp cut its stake in Wells Fargo & Company (NYSE:WFC) by 0.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 91,060 shares of the financial services provider’s stock after selling 204 shares during the period. Hancock Whitney Corp’s holdings in Wells Fargo & Company were worth $5,144,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter worth about $29,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $34,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Activity

In other Wells Fargo & Company news, 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 transaction of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction 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 owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % 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 topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Piper Sandler increased their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Morgan Stanley dropped their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.07.

Wells Fargo & Company Trading Up 1.0 %

Shares of NYSE:WFC opened at $76.72 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day moving average is $63.28 and its 200-day moving average is $59.80. The company has a market cap of $255.44 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.58 and a beta of 1.14. Wells Fargo & Company has a 52-week low of $42.52 and a 52-week high of $76.72.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results 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 company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

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.