Stockman Wealth Management Inc. Has $236,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Stockman Wealth Management Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,171 shares of the financial services provider’s stock after selling 167 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Company by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after purchasing an additional 831,975 shares during the last quarter. National Pension Service boosted its position in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares during the period. First Pacific Advisors LP raised its position in shares of Wells Fargo & Company by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after acquiring an additional 108,480 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after purchasing an additional 1,415,647 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Insider Activity at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the 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 approximately $10,421,957. The trade was 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 currently owned by company insiders.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $0.62 during trading hours on Friday, reaching $70.04. 14,270,937 shares of the company were exchanged, compared to its average volume of 20,588,524. The stock has a market capitalization of $233.20 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.63 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1 year low of $40.27 and a 1 year high of $74.27. The business’s 50 day simple moving average is $59.59 and its 200-day simple moving average is $58.84.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.39 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Evercore ISI raised their target price on 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, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.12.

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.