Wells Fargo & Company (NYSE:WFC) Shares Sold by Fiduciary Family Office LLC

Fiduciary Family Office LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.7% during the third quarter, HoldingsChannel.com reports. The fund owned 42,391 shares of the financial services provider’s stock after selling 2,582 shares during the quarter. Wells Fargo & Company makes up 0.8% of Fiduciary Family Office LLC’s holdings, making the stock its 19th largest position. Fiduciary Family Office LLC’s holdings in Wells Fargo & Company were worth $2,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ellenbecker Investment Group boosted its holdings in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 164 shares during the period. Income Research & Management acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $211,000. Modera Wealth Management LLC raised its position in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares in the last quarter. John W. Brooker & Co. CPAs raised its position in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 171 shares in the last quarter. Finally, McAdam LLC raised its position in shares of Wells Fargo & Company by 3.3% in the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded up $0.38 on Tuesday, hitting $64.08. The company’s stock had a trading volume of 2,252,441 shares, compared to its average volume of 17,896,875. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $66.39. The company has a market capitalization of $218.11 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The stock’s 50-day moving average is $58.64 and its two-hundred day moving average is $58.59. 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 released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 2.50%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WFC shares. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their price target for the company from $62.00 to $59.00 in a research report on Friday, August 16th. BMO Capital Markets upped their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. The Goldman Sachs Group dropped their price target on 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. Finally, Piper Sandler upped 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. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.12.

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.