Cumberland Advisors Inc. Has $759,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Cumberland Advisors Inc. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,800 shares of the financial services provider’s stock after selling 500 shares during the period. Cumberland Advisors Inc.’s holdings in Wells Fargo & Company were worth $759,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Transactions at Wells Fargo & Company

In other news, 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 transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Stock Down 0.1 %

Shares of NYSE WFC traded down $0.04 during trading on Wednesday, hitting $71.55. 15,690,037 shares of the company traded hands, compared to its average volume of 12,396,836. The business’s fifty day moving average is $71.77 and its 200 day moving average is $62.69. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The firm has a market capitalization of $238.23 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WFC. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Evercore ISI raised their price target on shares of 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 equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $69.24.

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.