Stonebrook Private Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Stonebrook Private Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, HoldingsChannel reports. The fund purchased 3,791 shares of the financial services provider’s stock, valued at approximately $214,000.

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

Insider Transactions at Wells Fargo & Company

In other 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 value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $63.07.

Wells Fargo & Company Price Performance

Shares of WFC opened at $75.96 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. 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. The firm’s 50 day moving average price is $63.28 and its 200 day moving average price is $59.81. Wells Fargo & Company has a twelve month low of $42.52 and a twelve month high of $76.08.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the firm earned $1.39 EPS. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.