Wells Fargo & Company (NYSE:WFC) Shares Purchased by Cable Hill Partners LLC

Cable Hill Partners LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 20.5% in the third quarter, HoldingsChannel.com reports. The firm owned 4,298 shares of the financial services provider’s stock after acquiring an additional 732 shares during the quarter. Cable Hill Partners LLC’s holdings in Wells Fargo & Company were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ellenbecker Investment Group grew its stake in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares in the last quarter. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth $211,000. Modera Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 0.9% during the third 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 in the last quarter. Catalina Capital Group LLC grew its stake 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 purchasing an additional 168 shares in the last quarter. Finally, John W. Brooker & Co. CPAs grew its stake in shares of Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.0 %

NYSE WFC opened at $72.80 on Friday. The stock has a market capitalization of $242.39 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.52 and a beta of 1.14. Wells Fargo & Company has a 52-week low of $41.99 and a 52-week high of $74.27. The firm has a 50-day moving average price of $60.45 and a 200 day moving average price of $59.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

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 (EPS) for the quarter, topping the consensus estimate 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 net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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 transaction 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 26.83 % 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 company’s stock in a transaction dated 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, 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 for the company in a research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.12.

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.