Wells Fargo & Company (NYSE:WFC) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,989 shares of the financial services provider’s stock after buying an additional 816 shares during the quarter. Versant Capital Management Inc’s holdings in Wells Fargo & Company were worth $350,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. First National Trust Co lifted its holdings in Wells Fargo & Company by 4.6% in the 2nd quarter. First National Trust Co now owns 19,493 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 863 shares in the last quarter. Cozad Asset Management Inc. lifted its stake in shares of Wells Fargo & Company by 6.6% during the second quarter. Cozad Asset Management Inc. now owns 3,883 shares of the financial services provider’s stock valued at $231,000 after buying an additional 241 shares during the period. Simon Quick Advisors LLC boosted its position in Wells Fargo & Company by 21.5% during the second quarter. Simon Quick Advisors LLC now owns 9,934 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 1,760 shares during the last quarter. Larson Financial Group LLC grew its stake in Wells Fargo & Company by 191.4% in the 2nd quarter. Larson Financial Group LLC now owns 5,032 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 3,305 shares during the period. Finally, Mayflower Financial Advisors LLC raised its holdings in Wells Fargo & Company by 14.8% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 5,132 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 661 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.1 %

NYSE:WFC opened at $70.19 on Friday. The stock has a market cap of $233.70 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.47 and a beta of 1.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The business has a fifty day moving average of $71.28 and a 200-day moving average of $62.31.

Wells Fargo & Company (NYSE:WFC) last released 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. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. Equities analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared 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 2.28%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WFC. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. 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 stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $67.57.

Insider Activity

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

About Wells Fargo & Company

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.