Lummis Asset Management LP Acquires 196 Shares of Wells Fargo & Company (NYSE:WFC)

Lummis Asset Management LP raised its holdings in Wells Fargo & Company (NYSE:WFC) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,074 shares of the financial services provider’s stock after acquiring an additional 196 shares during the period. Wells Fargo & Company comprises 1.9% of Lummis Asset Management LP’s holdings, making the stock its 19th biggest holding. Lummis Asset Management LP’s holdings in Wells Fargo & Company were worth $1,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the second quarter worth about $26,000. Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% during the second 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 last quarter. J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth about $47,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.4 %

Wells Fargo & Company stock traded up $0.30 during trading on Thursday, hitting $73.07. 735,035 shares of the company were exchanged, compared to its average volume of 18,064,666. The business’s 50 day moving average is $60.45 and its 200 day moving average is $59.11. Wells Fargo & Company has a 52 week low of $41.99 and a 52 week high of $74.27. The company has a market capitalization of $243.29 billion, a P/E ratio of 15.13, a PEG ratio of 1.51 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. Analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Analysts Set New Price Targets

Several analysts recently commented on WFC shares. 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. Compass Point upped their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Finally, Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. 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 stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $62.12.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.