Impact Partnership Wealth LLC Invests $984,000 in Wells Fargo & Company (NYSE:WFC)

Impact Partnership Wealth LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,424 shares of the financial services provider’s stock, valued at approximately $984,000.

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Global Assets Advisory LLC bought a new position in shares of Wells Fargo & Company in the first quarter valued at $2,638,000. Brookstone Capital Management lifted its position in shares of Wells Fargo & Company by 6.9% during the first quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock valued at $1,129,000 after purchasing an additional 1,263 shares in the last quarter. Sovereign Financial Group Inc. bought a new position in shares of Wells Fargo & Company during the first quarter valued at about $218,000. Key Client Fiduciary Advisors LLC increased its holdings in Wells Fargo & Company by 25.0% during the first quarter. Key Client Fiduciary Advisors LLC now owns 6,390 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,278 shares during the last quarter. Finally, Revolve Wealth Partners LLC purchased a new stake in Wells Fargo & Company during the first quarter worth about $229,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.82.

Wells Fargo & Company Trading Up 0.3 %

WFC traded up $0.18 during trading on Thursday, hitting $64.74. 1,856,932 shares of the stock traded hands, compared to its average volume of 18,015,289. The firm has a market capitalization of $225.70 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a 50-day moving average of $57.20 and a 200 day moving average of $58.15. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $65.21.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS 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 analyst estimates of $20.40 billion. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. Wells Fargo & Company’s payout ratio is 32.85%.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.