Wells Fargo & Company (NYSE:WFC) Shares Sold by Camden National Bank

Camden National Bank reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 24.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,691 shares of the financial services provider’s stock after selling 1,503 shares during the period. Camden National Bank’s holdings in Wells Fargo & Company were worth $265,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $160,529,000. Marshall Wace LLP boosted its stake in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after acquiring an additional 2,404,898 shares during the last quarter. Rokos Capital Management LLP boosted its stake in shares of Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after acquiring an additional 1,536,152 shares during the last quarter. National Pension Service boosted its stake in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after acquiring an additional 831,975 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $75.96 on Friday. 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 capitalization of $252.91 billion, a PE ratio of 15.79, a P/E/G ratio of 1.56 and a beta of 1.14. Wells Fargo & Company has a 12-month low of $42.52 and a 12-month high of $76.08. The business’s fifty day moving average price is $63.28 and its 200 day moving average price is $59.81.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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 firm had revenue of $20.37 billion for 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 company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’s 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 sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value 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 trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective 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. Compass Point boosted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley lowered their price objective 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. 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.com, the company currently has an average rating of “Hold” and a consensus price target of $63.07.

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.