Gladstone Institutional Advisory LLC Buys 24,835 Shares of Wells Fargo & Company (NYSE:WFC)

Gladstone Institutional Advisory LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 259.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 34,403 shares of the financial services provider’s stock after purchasing an additional 24,835 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Wells Fargo & Company were worth $1,943,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $26,000. Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $47,000. Institutional investors own 75.90% of the company’s stock.

Insiders Place Their Bets

In related 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 approximately $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were 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 approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Down 0.4 %

NYSE:WFC opened at $64.68 on Friday. The firm has a 50-day simple moving average of $58.50 and a two-hundred day simple moving average of $58.54. Wells Fargo & Company has a fifty-two week low of $39.39 and a fifty-two week high of $66.39. The firm has a market cap of $220.16 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.48 and a beta of 1.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WFC. BMO Capital Markets increased 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 report on Thursday, July 11th. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Compass Point increased their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.12.

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.