Wells Fargo & Company (NYSE:WFC) Shares Sold by Applied Capital LLC FL

Applied Capital LLC FL lowered its stake in Wells Fargo & Company (NYSE:WFC) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,802 shares of the financial services provider’s stock after selling 380 shares during the quarter. Wells Fargo & Company comprises 1.4% of Applied Capital LLC FL’s portfolio, making the stock its 25th largest position. Applied Capital LLC FL’s holdings in Wells Fargo & Company were worth $1,796,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the 2nd quarter worth $26,000. Valued Wealth Advisors LLC lifted its holdings 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 buying an additional 220 shares in the last quarter. J.Safra Asset Management Corp boosted its position in Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at about $47,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WFC shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday. Piper Sandler raised their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Compass Point boosted their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $61.82.

Insiders Place Their Bets

In related news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $63.04 on Wednesday. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $63.82. The company has a market cap of $219.78 billion, a PE ratio of 12.94, a P/E/G ratio of 1.46 and a beta of 1.16. The stock has a 50 day simple moving average of $55.81 and a 200-day simple moving average of $57.86. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company 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 12.30% and a net margin of 15.17%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

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.