Avior Wealth Management LLC Buys 5,103 Shares of Wells Fargo & Company (NYSE:WFC)

Avior Wealth Management LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,507 shares of the financial services provider’s stock after acquiring an additional 5,103 shares during the period. Avior Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after purchasing an additional 831,975 shares in the last quarter. National Pension Service boosted its position in shares of Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after buying an additional 162,066 shares in the last quarter. 1832 Asset Management L.P. raised its position in Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after buying an additional 2,349,595 shares during the last quarter. Finally, First Pacific Advisors LP lifted its stake in Wells Fargo & Company by 2.1% in the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after acquiring an additional 108,480 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group decreased 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 note on Wednesday, September 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company 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 stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler raised their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.07.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $73.43 on Wednesday. The company has a market cap of $244.48 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.55 and a beta of 1.14. The firm’s fifty day moving average price is $61.95 and its two-hundred day moving average price is $59.49. Wells Fargo & Company has a one year low of $42.15 and a one year high of $74.70. 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 results 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 business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 EPS. Equities analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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 is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.18%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Activity at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the business’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 value of $2,169,650.00. Following the completion of the sale, 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. 0.08% of the stock is currently owned by corporate insiders.

Wells Fargo & 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.