Wells Fargo & Company (NYSE:WFC) Shares Bought by Financial Partners Group LLC

Financial Partners Group LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,011 shares of the financial services provider’s stock after buying an additional 1,502 shares during the quarter. Financial Partners Group LLC’s holdings in Wells Fargo & Company were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Income Research & Management bought a new position in Wells Fargo & Company during the 3rd quarter valued at $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter worth about $26,000. Valued Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its stake in Wells Fargo & Company by 704.3% during the first 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. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WFC. Morgan Stanley decreased 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. Piper Sandler increased their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Stock Up 1.3 %

Wells Fargo & Company stock opened at $65.43 on Friday. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $65.57. The stock has a market cap of $222.71 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.46 and a beta of 1.16. The company’s 50-day moving average price is $57.20 and its two-hundred day moving average price is $58.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. On average, analysts expect that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated Monday, October 14th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.