Fifth Third Wealth Advisors LLC Acquires 3,512 Shares of Wells Fargo & Company (NYSE:WFC)

Fifth Third Wealth Advisors LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 8.3% during the third quarter, HoldingsChannel reports. The firm owned 45,781 shares of the financial services provider’s stock after purchasing an additional 3,512 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $2,586,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the 2nd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Finally, Fairscale Capital LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling 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 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 owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 sale, the executive vice president now owns 126,687 shares in the company, 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. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $74.09 on Tuesday. 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 has a 52 week low of $42.15 and a 52 week high of $74.70. The stock’s 50-day moving average price is $61.56 and its 200-day moving average price is $59.40. The stock has a market capitalization of $246.68 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Piper Sandler raised their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. 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. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Thirteen research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.12.

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.