Main Street Financial Solutions LLC Grows Stock Position in Wells Fargo & Company (NYSE:WFC)

Main Street Financial Solutions LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 23.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,581 shares of the financial services provider’s stock after acquiring an additional 2,217 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Wells Fargo & Company were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Koshinski Asset Management Inc. bought a new position in shares of Wells Fargo & Company during the first quarter valued at about $577,000. TBH Global Asset Management LLC increased its stake in shares of Wells Fargo & Company by 19.1% during the first quarter. TBH Global Asset Management LLC now owns 6,382 shares of the financial services provider’s stock valued at $370,000 after buying an additional 1,022 shares during the period. Kingsview Wealth Management LLC lifted its stake in Wells Fargo & Company by 25.9% in the first quarter. Kingsview Wealth Management LLC now owns 80,161 shares of the financial services provider’s stock worth $4,646,000 after acquiring an additional 16,492 shares during the period. Orion Portfolio Solutions LLC increased its position in Wells Fargo & Company by 4.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 134,127 shares of the financial services provider’s stock valued at $7,774,000 after purchasing an additional 5,388 shares during the period. Finally, Leo Wealth LLC lifted its position in shares of Wells Fargo & Company by 5.3% in the 1st quarter. Leo Wealth LLC now owns 4,747 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on WFC shares. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Compass Point increased their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.12.

Wells Fargo & Company Trading Up 0.3 %

Shares of WFC opened at $72.79 on Thursday. Wells Fargo & Company has a fifty-two week low of $41.46 and a fifty-two week high of $74.27. 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 company’s fifty day moving average is $60.15 and its 200 day moving average is $59.01. The stock has a market capitalization of $242.35 billion, a PE ratio of 15.13, a P/E/G ratio of 1.51 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. The company 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Insider Buying and Selling

In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were 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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $2,169,650.00. Following the sale, 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. 0.08% of the stock is currently owned by corporate insiders.

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.