Franklin Street Advisors Inc. NC Decreases Stake in Wells Fargo & Company (NYSE:WFC)

Franklin Street Advisors Inc. NC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,261 shares of the financial services provider’s stock after selling 810 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Wells Fargo & Company were worth $3,039,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Investors Research Corp lifted its stake in Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares during the last quarter. Ellenbecker Investment Group grew its stake in Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares during the last quarter. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter valued at $211,000. Modera Wealth Management LLC grew its position in 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 worth $1,018,000 after purchasing an additional 167 shares during the last quarter. Finally, Catalina Capital Group LLC boosted its position in shares of Wells Fargo & Company by 1.7% during the third quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock worth $558,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Transactions at Wells Fargo & Company

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 completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 21.65 % 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 insiders.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $1.94 during trading hours on Friday, reaching $69.63. 5,486,019 shares of the company traded hands, compared to its average volume of 11,352,494. The stock’s fifty day moving average is $72.02 and its 200 day moving average is $62.82. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $231.83 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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 firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Finally, UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.92.

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.