165 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Income Research & Management

Income Research & Management purchased a new position in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 165 shares of the financial services provider’s stock, valued at approximately $211,000. Wells Fargo & Company makes up about 0.1% of Income Research & Management’s holdings, making the stock its 22nd largest position.

A number of other institutional investors also recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI raised its stake in Wells Fargo & Company by 404.3% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 84,152 shares of the financial services provider’s stock worth $4,754,000 after buying an additional 67,466 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in Wells Fargo & Company in the third quarter worth about $202,000. Bank Pictet & Cie Europe AG raised its stake in Wells Fargo & Company by 2.8% in the third quarter. Bank Pictet & Cie Europe AG now owns 943,615 shares of the financial services provider’s stock worth $53,305,000 after buying an additional 25,881 shares in the last quarter. Community Trust & Investment Co. raised its stake in Wells Fargo & Company by 35.3% in the third quarter. Community Trust & Investment Co. now owns 6,248 shares of the financial services provider’s stock worth $353,000 after buying an additional 1,629 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $790,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC stock traded up $0.07 on Wednesday, hitting $64.88. The company had a trading volume of 3,990,152 shares, compared to its average volume of 18,028,143. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $65.21. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock’s 50-day simple moving average is $56.98 and its 200 day simple moving average is $58.11. The stock has a market cap of $226.19 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.39 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Insider Transactions at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction on 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFC. BMO Capital Markets raised their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Keefe, Bruyette & Woods decreased their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Finally, Piper Sandler raised their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. 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 stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $61.82.

Wells Fargo & Company 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.