Wells Fargo & Company (NYSE:WFC) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its stake in Wells Fargo & Company (NYSE:WFC) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,977 shares of the financial services provider’s stock after purchasing an additional 311 shares during the period. Zions Bancorporation N.A.’s holdings in Wells Fargo & Company were worth $394,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter valued at $26,000. Valued Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 53.7% during the 2nd 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 period. Fairscale Capital LLC purchased a new stake in Wells Fargo & Company during the second quarter worth about $47,000. Finally, Beaird Harris Wealth Management LLC grew its position in Wells Fargo & Company by 54.5% during the second quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock worth $51,000 after buying an additional 305 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WFC shares. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered 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 research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.12.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $74.34 on Friday. The company has a market cap of $247.51 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.52 and a beta of 1.14. The firm’s 50 day moving average is $60.77 and its two-hundred day moving average is $59.20. Wells Fargo & Company has a fifty-two week low of $41.99 and a fifty-two week high of $74.41. 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 (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. Analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Activity at Wells Fargo & Company

In related news, 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 completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’s 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 in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.