Associated Banc Corp Sells 731 Shares of Wells Fargo & Company (NYSE:WFC)

Associated Banc Corp lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,889 shares of the financial services provider’s stock after selling 731 shares during the quarter. Associated Banc Corp’s holdings in Wells Fargo & Company were worth $2,988,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WFC. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $29,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $34,000. Finally, Valued Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Compass Point boosted their price objective on shares of 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 lowered their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. The Goldman Sachs Group reduced 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Thirteen 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. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $63.07.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now 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. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $76.88 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $42.52 and a fifty-two week high of $77.31. The company has a market cap of $255.97 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.58 and a beta of 1.14. The stock has a fifty day moving average price of $63.74 and a 200-day moving average price of $59.91.

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, 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 firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.40 dividend. 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 2.08%. Wells Fargo & Company’s payout ratio is currently 33.26%.

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.