Arkadios Wealth Advisors Raises Stake in Wells Fargo & Company (NYSE:WFC)

Arkadios Wealth Advisors increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 19.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,801 shares of the financial services provider’s stock after purchasing an additional 3,228 shares during the period. Arkadios Wealth Advisors’ holdings in Wells Fargo & Company were worth $1,119,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $26,000. Valued Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. J.Safra Asset Management Corp grew its holdings in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WFC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Compass Point lifted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. 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 company. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $61.82.

Wells Fargo & Company Stock Down 1.4 %

Shares of WFC opened at $64.53 on Monday. The firm has a fifty day moving average price of $57.60 and a 200-day moving average price of $58.26. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $224.97 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $38.62 and a 12-month high of $65.95.

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 (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 business 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 company earned $1.39 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction 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 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.