Bleakley Financial Group LLC Has $3.87 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Bleakley Financial Group LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,411 shares of the financial services provider’s stock after purchasing an additional 6,367 shares during the quarter. Bleakley Financial Group LLC’s holdings in Wells Fargo & Company were worth $3,865,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its position in Wells Fargo & Company by 7.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 40,406 shares of the financial services provider’s stock worth $2,342,000 after acquiring an additional 2,955 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Wells Fargo & Company by 14.2% during the first quarter. Park Avenue Securities LLC now owns 71,737 shares of the financial services provider’s stock worth $4,158,000 after purchasing an additional 8,899 shares during the last quarter. SignalPoint Asset Management LLC bought a new position in Wells Fargo & Company in the first quarter valued at $234,000. &PARTNERS increased its stake in Wells Fargo & Company by 97.7% in the 1st quarter. &PARTNERS now owns 14,071 shares of the financial services provider’s stock valued at $800,000 after buying an additional 6,955 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in Wells Fargo & Company by 8.0% during the 1st quarter. Douglas Lane & Associates LLC now owns 11,406 shares of the financial services provider’s stock worth $661,000 after buying an additional 842 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.0 %

WFC stock opened at $64.37 on Friday. The business’s fifty day moving average price is $56.50 and its two-hundred day moving average price is $57.99. The stock has a market capitalization of $224.41 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $64.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Insiders Place Their Bets

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 transaction of $3,822,000.00. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a report on Tuesday. BMO Capital Markets raised their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $61.82.

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.