Wells Fargo & Company (NYSE:WFC) EVP Sells $3,822,000.00 in Stock

Wells Fargo & Company (NYSE:WFC) EVP Ather Williams III sold 60,000 shares of the business’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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $64.37 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $224.41 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. The business has a 50-day moving average price of $56.50 and a two-hundred day moving average price of $57.99. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $64.78.

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

Wells Fargo & Company Increases Dividend

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

Institutional Trading of Wells Fargo & Company

A number of institutional investors and hedge funds have recently modified their holdings of WFC. SageView Advisory Group LLC raised its holdings in Wells Fargo & Company by 169.1% in the fourth quarter. SageView Advisory Group LLC now owns 18,164 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 11,414 shares during the period. Leo Wealth LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $230,000. Cullen Investment Group LTD. grew its stake in Wells Fargo & Company by 3.9% in the first quarter. Cullen Investment Group LTD. now owns 14,527 shares of the financial services provider’s stock valued at $833,000 after acquiring an additional 539 shares during the period. CWM LLC increased its holdings in shares of Wells Fargo & Company by 3.9% in the first quarter. CWM LLC now owns 261,880 shares of the financial services provider’s stock worth $15,176,000 after acquiring an additional 9,947 shares in the last quarter. Finally, Atlas Brown Inc. lifted its holdings in shares of Wells Fargo & Company by 3.9% during the 1st quarter. Atlas Brown Inc. now owns 6,178 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 232 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on WFC shares. Piper Sandler raised their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI upped their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a report on Tuesday. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.82.

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.