Wells Fargo & Company (NYSE:WFC) Shares Purchased by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 0.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 311,074 shares of the financial services provider’s stock after buying an additional 541 shares during the quarter. Wells Fargo & Company comprises about 1.0% of ST Germain D J Co. Inc.’s holdings, making the stock its 24th largest position. ST Germain D J Co. Inc.’s holdings in Wells Fargo & Company were worth $21,850,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WFC. Income Research & Management acquired a new stake in Wells Fargo & Company in the third quarter valued at $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth about $26,000. Finally, Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.6 %

Shares of WFC traded down $1.87 during mid-day trading on Friday, hitting $69.70. The company had a trading volume of 4,824,618 shares, compared to its average volume of 11,265,880. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The business’s 50-day simple moving average is $72.02 and its 200-day simple moving average is $62.82. The stock has a market cap of $232.07 billion, a PE ratio of 14.49, a P/E/G ratio of 1.47 and a beta of 1.18. 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 (NYSE:WFC) last announced 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. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insiders Place Their Bets

In related news, EVP Beurden Saul Van sold 35,000 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were 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 directly 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 disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial assumed coverage on shares of Wells Fargo & Company in a research note on Tuesday. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

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.