MAI Capital Management Has $5.48 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

MAI Capital Management decreased its stake in Wells Fargo & Company (NYSE:WFC) by 13.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,046 shares of the financial services provider’s stock after selling 15,095 shares during the period. MAI Capital Management’s holdings in Wells Fargo & Company were worth $5,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth $26,000. Valued Wealth Advisors LLC raised its position in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares in the last quarter. Fairscale Capital LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at $47,000. Finally, Beaird Harris Wealth Management LLC grew its position in shares of Wells Fargo & Company by 54.5% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.9 %

WFC opened at $73.43 on Wednesday. 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 has a fifty-two week low of $42.15 and a fifty-two week high of $74.70. The company’s 50 day moving average price is $61.95 and its two-hundred day moving average price is $59.49. The firm has a market capitalization of $244.48 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.55 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and dropped their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Compass Point raised their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.07.

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.