Savvy Advisors Inc. Buys Shares of 10,487 Wells Fargo & Company (NYSE:WFC)

Savvy Advisors Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 10,487 shares of the financial services provider’s stock, valued at approximately $592,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cozad Asset Management Inc. acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $211,000. Koshinski Asset Management Inc. acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $577,000. Interchange Capital Partners LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $213,000. TBH Global Asset Management LLC grew its position in shares of Wells Fargo & Company by 19.1% in the first quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Wealthquest Corp acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $209,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Compass Point raised their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Piper Sandler raised 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 report on Monday, October 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.12.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $72.58 on Wednesday. The company’s fifty day simple moving average is $59.87 and its 200-day simple moving average is $58.92. Wells Fargo & Company has a 52 week low of $40.53 and a 52 week high of $74.27. 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 company has a market cap of $241.65 billion, a PE ratio of 15.09, a P/E/G ratio of 1.63 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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 the consensus estimate of $20.40 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insider Buying and Selling

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction 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 owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction 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 owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction 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 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 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.