Round Hill Asset Management Sells 775 Shares of Wells Fargo & Company (NYSE:WFC)

Round Hill Asset Management decreased its stake in Wells Fargo & Company (NYSE:WFC) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 39,792 shares of the financial services provider’s stock after selling 775 shares during the quarter. Wells Fargo & Company makes up 1.5% of Round Hill Asset Management’s holdings, making the stock its 22nd largest holding. Round Hill Asset Management’s holdings in Wells Fargo & Company were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the second quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the third quarter worth approximately $34,000. Valued Wealth Advisors LLC raised its stake in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $47,000. 75.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $75.96 on Friday. Wells Fargo & Company has a 1 year low of $42.52 and a 1 year high of $76.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average price is $63.28 and its two-hundred day moving average price is $59.81. The firm has a market cap of $252.91 billion, a PE ratio of 15.79, a PEG ratio of 1.56 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released 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 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 revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. 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 research report on Wednesday, October 30th. 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. Piper Sandler upped their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Morgan Stanley decreased their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. 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. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $63.07.

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.