Wells Fargo & Company (NYSE:WFC) Shares Acquired by Regal Partners Ltd

Regal Partners Ltd increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 902,443 shares of the financial services provider’s stock after purchasing an additional 51,826 shares during the quarter. Wells Fargo & Company comprises approximately 4.5% of Regal Partners Ltd’s portfolio, making the stock its 7th biggest holding. Regal Partners Ltd’s holdings in Wells Fargo & Company were worth $50,979,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WFC. Plato Investment Management Ltd increased its stake in Wells Fargo & Company by 2.9% during the 3rd quarter. Plato Investment Management Ltd now owns 74,565 shares of the financial services provider’s stock worth $4,208,000 after acquiring an additional 2,119 shares during the period. Cable Hill Partners LLC increased its stake in shares of Wells Fargo & Company by 20.5% in the 3rd quarter. Cable Hill Partners LLC now owns 4,298 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 732 shares during the last quarter. Main Street Financial Solutions LLC increased its stake in shares of Wells Fargo & Company by 23.7% in the 3rd quarter. Main Street Financial Solutions LLC now owns 11,581 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 2,217 shares during the last quarter. Haverford Trust Co increased its stake in shares of Wells Fargo & Company by 1.3% in the 3rd quarter. Haverford Trust Co now owns 53,565 shares of the financial services provider’s stock valued at $3,026,000 after purchasing an additional 692 shares during the last quarter. Finally, Empower Advisory Group LLC increased its stake in shares of Wells Fargo & Company by 11.5% in the 3rd quarter. Empower Advisory Group LLC now owns 79,608 shares of the financial services provider’s stock valued at $4,497,000 after purchasing an additional 8,222 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WFC. Compass Point lifted their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley decreased their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and reduced their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, Piper Sandler boosted their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $62.12.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 of the company’s stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the company’s 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 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 0.3 %

Shares of WFC opened at $72.79 on Thursday. The company has a market capitalization of $242.35 billion, a PE ratio of 15.13, a PEG ratio of 1.51 and a beta of 1.14. Wells Fargo & Company has a 12 month low of $41.46 and a 12 month high of $74.27. The stock’s 50-day moving average price is $60.15 and its two-hundred day moving average price is $59.01. 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 announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the previous year, the business earned $1.39 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.