Olympiad Research LP Purchases 2,480 Shares of Wells Fargo & Company (NYSE:WFC)

Olympiad Research LP lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 66.5% in the 3rd quarter, Holdings Channel reports. The fund owned 6,212 shares of the financial services provider’s stock after acquiring an additional 2,480 shares during the quarter. Olympiad Research LP’s holdings in Wells Fargo & Company were worth $351,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WFC. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Wells Fargo & Company by 33.4% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,960 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 2,495 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Wells Fargo & Company by 30.4% during the first quarter. Oppenheimer & Co. Inc. now owns 52,634 shares of the financial services provider’s stock worth $3,051,000 after acquiring an additional 12,268 shares in the last quarter. Equity Investment Corp increased its position in shares of Wells Fargo & Company by 0.9% during the first quarter. Equity Investment Corp now owns 2,589,953 shares of the financial services provider’s stock worth $150,114,000 after acquiring an additional 23,481 shares in the last quarter. Forsta AP Fonden grew its position in Wells Fargo & Company by 13.5% in the first quarter. Forsta AP Fonden now owns 869,200 shares of the financial services provider’s stock valued at $50,379,000 after purchasing an additional 103,100 shares in the last quarter. Finally, Bernardo Wealth Planning LLC bought a new position in Wells Fargo & Company in the first quarter valued at $222,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $69.79 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $74.27. The firm has a market cap of $232.37 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.44 and a beta of 1.14. The company’s 50-day moving average price is $59.11 and its two-hundred day moving average price is $58.72.

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 analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Activity at Wells Fargo & Company

In related 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 transaction of $3,822,000.00. Following the sale, the executive vice president now directly 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 document filed with the SEC, which is available through this hyperlink. In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. 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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. 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 report on Monday, October 14th. BMO Capital Markets raised their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $62.12.

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.