Bard Financial Services Inc. Sells 11,805 Shares of Wells Fargo & Company (NYSE:WFC)

Bard Financial Services Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 11.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,355 shares of the financial services provider’s stock after selling 11,805 shares during the period. Bard Financial Services Inc.’s holdings in Wells Fargo & Company were worth $4,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $34,000. Finally, FSA Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WFC shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. UBS Group increased their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.49.

Wells Fargo & Company Stock Performance

WFC stock opened at $72.63 on Wednesday. The stock has a 50-day moving average price of $67.71 and a 200-day moving average price of $60.88. Wells Fargo & Company has a 1-year low of $45.81 and a 1-year high of $78.13. 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 firm has a market cap of $241.82 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

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 for the quarter, topping the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Activity

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 stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company 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.