3,608 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Sunpointe LLC

Sunpointe LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,608 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. SageView Advisory Group LLC lifted its holdings in shares of Wells Fargo & Company by 169.1% during the 4th quarter. SageView Advisory Group LLC now owns 18,164 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 11,414 shares during the last quarter. Leo Wealth LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at about $230,000. Cullen Investment Group LTD. boosted its holdings in Wells Fargo & Company by 3.9% in the first quarter. Cullen Investment Group LTD. now owns 14,527 shares of the financial services provider’s stock worth $833,000 after acquiring an additional 539 shares in the last quarter. CWM LLC grew its stake in shares of Wells Fargo & Company by 3.9% during the first quarter. CWM LLC now owns 261,880 shares of the financial services provider’s stock worth $15,176,000 after acquiring an additional 9,947 shares during the last quarter. Finally, Atlas Brown Inc. grew its stake in shares of Wells Fargo & Company by 3.9% during the first quarter. Atlas Brown Inc. now owns 6,178 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 232 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $1.01 during midday trading on Wednesday, reaching $64.04. 2,459,633 shares of the company traded hands, compared to its average volume of 18,003,758. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $64.08. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $223.26 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a fifty day moving average price of $55.81 and a 200 day moving average price of $57.86.

Wells Fargo & Company (NYSE:WFC) last issued 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 15.17% and a return on equity of 12.30%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the company earned $1.39 EPS. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a $0.40 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Insider Activity

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was 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 in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Compass Point upped their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Finally, The Goldman Sachs Group cut their target price 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. Thirteen 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’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $61.82.

About Wells Fargo & Company

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.