Wells Fargo & Company (NYSE:WFC) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 24.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,349 shares of the financial services provider’s stock after selling 4,597 shares during the period. Kanawha Capital Management LLC’s holdings in Wells Fargo & Company were worth $811,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Bryn Mawr Capital Management LLC purchased a new position in Wells Fargo & Company in the first quarter valued at approximately $213,000. Lincoln National Corp boosted its stake in Wells Fargo & Company by 5.9% in the first quarter. Lincoln National Corp now owns 46,786 shares of the financial services provider’s stock valued at $2,712,000 after acquiring an additional 2,620 shares in the last quarter. Financial Counselors Inc. grew its holdings in shares of Wells Fargo & Company by 11.2% during the first quarter. Financial Counselors Inc. now owns 15,196 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 1,535 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Wells Fargo & Company by 4.6% during the first quarter. Proficio Capital Partners LLC now owns 7,259 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 320 shares in the last quarter. Finally, AA Financial Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at about $378,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $64.68 on Monday. Wells Fargo & Company has a 12-month low of $39.39 and a 12-month high of $66.39. The stock has a market cap of $220.16 billion, a P/E ratio of 13.45, a PEG ratio of 1.46 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. The company has a 50-day moving average of $58.50 and a two-hundred day moving average of $58.56.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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 for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Analysts Set New Price Targets

Several research analysts have commented on WFC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Finally, Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Thirteen equities 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 company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $62.12.

Insider Buying and Selling

In other Wells Fargo & Company 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents 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 company insiders.

About Wells Fargo & Company

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.