Alan B Lancz & Associates Inc. Has $271,000 Position in Wells Fargo & Company (NYSE:WFC)

Alan B Lancz & Associates Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 26.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,800 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Wells Fargo & Company were worth $271,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. 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. Atomi Financial Group Inc. increased its holdings in Wells Fargo & Company by 32.6% during the 1st quarter. Atomi Financial Group Inc. now owns 18,376 shares of the financial services provider’s stock worth $1,065,000 after purchasing an additional 4,518 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Wells Fargo & Company by 4.5% in the 1st quarter. Concurrent Investment Advisors LLC now owns 33,525 shares of the financial services provider’s stock valued at $1,943,000 after purchasing an additional 1,435 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Wells Fargo & Company by 15.4% in the first quarter. Meeder Asset Management Inc. now owns 8,426 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of Wells Fargo & Company by 5.6% during the first quarter. Meeder Advisory Services Inc. now owns 45,925 shares of the financial services provider’s stock worth $2,662,000 after buying an additional 2,434 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.9 %

Shares of NYSE:WFC opened at $70.04 on Friday. Wells Fargo & Company has a 12-month low of $40.27 and a 12-month high of $74.27. The business has a 50 day moving average of $59.59 and a 200-day moving average of $58.86. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $233.20 billion, a PE ratio of 14.56, a P/E/G ratio of 1.63 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.39 earnings per share 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 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $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 owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. Compass Point lifted their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Thirteen 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.12.

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.