Wells Fargo & Company (NYSE:WFC) Stock Position Reduced by Peoples Bank KS

Peoples Bank KS trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,789 shares of the financial services provider’s stock after selling 1,120 shares during the period. Wells Fargo & Company accounts for about 2.1% of Peoples Bank KS’s holdings, making the stock its 10th largest holding. Peoples Bank KS’s holdings in Wells Fargo & Company were worth $3,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Wells Fargo & Company 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 value 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 26.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on 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 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. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Trading Down 0.6 %

Shares of WFC stock opened at $71.60 on Wednesday. The company has a market capitalization of $238.39 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.47 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $71.77 and a 200 day moving average price of $62.69. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective 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 raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Thirteen 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.24.

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.