Dumont & Blake Investment Advisors LLC Sells 10,652 Shares of Wells Fargo & Company (NYSE:WFC)

Dumont & Blake Investment Advisors LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 49.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,066 shares of the financial services provider’s stock after selling 10,652 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brookstone Capital Management raised its position in Wells Fargo & Company by 6.9% during the first quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock valued at $1,129,000 after purchasing an additional 1,263 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Wells Fargo & Company by 3.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,414 shares of the financial services provider’s stock valued at $778,000 after purchasing an additional 391 shares in the last quarter. Kathmere Capital Management LLC raised its position in shares of Wells Fargo & Company by 4.3% in the 1st quarter. Kathmere Capital Management LLC now owns 7,916 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 324 shares in the last quarter. Webster Bank N. A. grew its position in shares of Wells Fargo & Company by 2.0% in the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares during the last quarter. Finally, Trust Co. of Virginia VA acquired a new position in Wells Fargo & Company during the 1st quarter valued at approximately $201,000. 75.90% of the stock is currently owned by institutional investors.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the firm’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 in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group decreased their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Compass Point upped their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Thirteen 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 company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $61.82.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $64.52 on Friday. The firm has a 50-day simple moving average of $57.41 and a 200-day simple moving average of $58.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $219.61 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.62 and a 52 week high of $65.95.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

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.