Aviso Wealth Management Grows Position in Wells Fargo & Company (NYSE:WFC)

Aviso Wealth Management boosted its position in Wells Fargo & Company (NYSE:WFC) by 47.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,595 shares of the financial services provider’s stock after purchasing an additional 5,368 shares during the period. Aviso Wealth Management’s holdings in Wells Fargo & Company were worth $937,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GLOBALT Investments LLC GA purchased a new position in Wells Fargo & Company in the third quarter worth about $5,764,000. Aljian Capital Management LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth about $513,000. Claro Advisors LLC raised its stake in shares of Wells Fargo & Company by 15.6% in the third quarter. Claro Advisors LLC now owns 16,109 shares of the financial services provider’s stock worth $910,000 after buying an additional 2,173 shares during the period. Concord Asset Management LLC VA raised its stake in shares of Wells Fargo & Company by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 5,179 shares of the financial services provider’s stock worth $293,000 after buying an additional 191 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in shares of Wells Fargo & Company in the third quarter worth about $62,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WFC shares. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued 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. Finally, Jefferies Financial Group downgraded 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. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company Trading Up 2.1 %

Shares of NYSE WFC opened at $74.34 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $61.17 and a two-hundred day simple moving average of $59.30. The firm has a market cap of $247.51 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14. Wells Fargo & Company has a twelve month low of $41.99 and a twelve month high of $74.41.

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, 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 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 company posted $1.39 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid 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 2.15%. Wells Fargo & Company’s payout ratio is 33.26%.

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.