Wells Fargo & Company (NYSE:WFC) Shares Sold by Round Hill Asset Management

Round Hill Asset Management lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 39,792 shares of the financial services provider’s stock after selling 775 shares during the period. Wells Fargo & Company comprises about 1.5% of Round Hill Asset Management’s portfolio, making the stock its 22nd largest holding. Round Hill Asset Management’s holdings in Wells Fargo & Company were worth $2,248,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $34,000. Valued Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Finally, Fairscale Capital LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth approximately $47,000. 75.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’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 sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents 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 owned by insiders.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $75.96 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $63.28 and its 200 day simple moving average is $59.81. Wells Fargo & Company has a one year low of $42.52 and a one year high of $76.08. The firm has a market cap of $252.91 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.56 and a beta of 1.14.

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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company posted $1.39 EPS. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced 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 2.11%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Analyst Ratings Changes

WFC has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Compass Point boosted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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.