Bard Financial Services Inc. Has $4.99 Million Stake in Wells Fargo & Company (NYSE:WFC)

Bard Financial Services Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 88,355 shares of the financial services provider’s stock after selling 11,805 shares during the quarter. Bard Financial Services Inc.’s holdings in Wells Fargo & Company were worth $4,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Income Research & Management bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Finally, FSA Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.8 %

WFC opened at $72.63 on Wednesday. The company has a fifty day moving average price of $67.71 and a 200-day moving average price of $60.88. The firm has a market capitalization of $241.82 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. 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 one year low of $45.81 and a one year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS 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 firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the business earned $1.39 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Buying and Selling

In other Wells Fargo & Company news, 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 completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $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. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. 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 report on Tuesday, November 19th. Morgan Stanley lowered their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.49.

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.