Alan B Lancz & Associates Inc. Has $271,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Alan B Lancz & Associates Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 26.3% during the third quarter, HoldingsChannel reports. The firm owned 4,800 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Wells Fargo & Company were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Cardinal Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after buying an additional 11,037 shares in the last quarter. Argus Investors Counsel Inc. boosted its position in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares during the period. M&G PLC grew its holdings in Wells Fargo & Company by 31.8% during the 3rd quarter. M&G PLC now owns 755,930 shares of the financial services provider’s stock worth $42,332,000 after acquiring an additional 182,274 shares during the last quarter. EP Wealth Advisors LLC increased its position in Wells Fargo & Company by 40.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock valued at $10,648,000 after acquiring an additional 51,234 shares during the period. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Wells Fargo & Company by 13.3% during the first quarter. Tocqueville Asset Management L.P. now owns 11,061 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 1,295 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Insider Activity

In related 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 sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The shares were 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 of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. 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 for the company in a report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.12.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $70.04 on Friday. Wells Fargo & Company has a one year low of $40.27 and a one year high of $74.27. The company has a market cap of $233.20 billion, a PE ratio of 14.56, a P/E/G ratio of 1.63 and a beta of 1.14. The stock has a 50-day moving average of $59.59 and a 200-day moving average of $58.86. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during 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 company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.39 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.