Wells Fargo & Company (NYSE:WFC) Stake Decreased by CKW Financial Group

CKW Financial Group trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the financial services provider’s stock after selling 200 shares during the quarter. CKW Financial Group’s holdings in Wells Fargo & Company were worth $277,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its holdings in Wells Fargo & Company by 22.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 67,346 shares of the financial services provider’s stock worth $3,903,000 after purchasing an additional 12,473 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Wells Fargo & Company by 20.8% in the 1st quarter. Tidal Investments LLC now owns 88,063 shares of the financial services provider’s stock worth $5,103,000 after buying an additional 15,139 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at $2,773,000. Beacon Capital Management LLC boosted its stake in Wells Fargo & Company by 18.2% during the first quarter. Beacon Capital Management LLC now owns 1,316 shares of the financial services provider’s stock valued at $76,000 after buying an additional 203 shares in the last quarter. Finally, Western Pacific Wealth Management LP grew its holdings in Wells Fargo & Company by 20.2% during the first quarter. Western Pacific Wealth Management LP now owns 8,734 shares of the financial services provider’s stock worth $506,000 after acquiring an additional 1,467 shares during the period. Institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 trade represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, 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. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 0.4 %

Shares of Wells Fargo & Company stock traded up $0.30 on Tuesday, hitting $77.20. 4,631,916 shares of the company traded hands, compared to its average volume of 18,078,322. 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 has a 12-month low of $42.52 and a 12-month high of $77.52. The company has a 50-day moving average price of $63.74 and a 200 day moving average price of $59.91. The company has a market cap of $257.04 billion, a PE ratio of 15.98, a PEG ratio of 1.58 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the firm posted $1.39 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. Compass Point raised their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley cut their price objective on 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. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Finally, 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. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.