Dynamic Technology Lab Private Ltd Buys Shares of 4,527 Wells Fargo & Company (NYSE:WFC)

Dynamic Technology Lab Private Ltd bought a new position in Wells Fargo & Company (NYSE:WFC) in the third quarter, Holdings Channel.com reports. The firm bought 4,527 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other hedge funds also recently made changes to their positions in WFC. Douglass Winthrop Advisors LLC increased its position in Wells Fargo & Company by 3.6% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 16,392 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 566 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Wells Fargo & Company by 13.8% during the third quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock worth $1,403,000 after buying an additional 3,016 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Wells Fargo & Company by 10.1% during the third quarter. Daiwa Securities Group Inc. now owns 425,906 shares of the financial services provider’s stock worth $24,060,000 after buying an additional 39,021 shares in the last quarter. Hartford Funds Management Co LLC lifted its stake in shares of Wells Fargo & Company by 19.8% in the 3rd quarter. Hartford Funds Management Co LLC now owns 20,984 shares of the financial services provider’s stock valued at $1,185,000 after acquiring an additional 3,465 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Wells Fargo & Company by 21.8% during the 3rd quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 1,097 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 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 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 Trading Down 1.3 %

Shares of WFC stock opened at $76.17 on Monday. The company has a market cap of $253.61 billion, a P/E ratio of 15.84, a PEG ratio of 1.59 and a beta of 1.14. Wells Fargo & Company has a fifty-two week low of $43.48 and a fifty-two week high of $78.13. 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 has a 50 day simple moving average of $65.48 and a two-hundred day simple moving average of $60.33.

Wells Fargo & Company (NYSE:WFC) last issued 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 company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period last year, the business posted $1.39 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research reports. Morgan Stanley dropped their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.07.

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.