ASB Consultores LLC Sells 363 Shares of Wells Fargo & Company (NYSE:WFC)

ASB Consultores LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,018 shares of the financial services provider’s stock after selling 363 shares during the period. ASB Consultores LLC’s holdings in Wells Fargo & Company were worth $679,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Financial Counselors Inc. increased its holdings in shares of Wells Fargo & Company by 11.2% in the first quarter. Financial Counselors Inc. now owns 15,196 shares of the financial services provider’s stock worth $881,000 after acquiring an additional 1,535 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Wells Fargo & Company by 4.6% during the 1st quarter. Proficio Capital Partners LLC now owns 7,259 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 320 shares in the last quarter. Commerce Bank lifted its stake in Wells Fargo & Company by 15.8% in the first quarter. Commerce Bank now owns 217,091 shares of the financial services provider’s stock valued at $12,583,000 after buying an additional 29,559 shares in the last quarter. Callan Capital LLC acquired a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $317,000. Finally, Mediolanum International Funds Ltd acquired a new position in Wells Fargo & Company in the 1st quarter worth $8,161,000. 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 the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. 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 is available at the SEC website. In other Wells Fargo & Company 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $63.70 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. The stock has a market cap of $216.82 billion, a PE ratio of 13.24, a PEG ratio of 1.46 and a beta of 1.14. Wells Fargo & Company has a 12-month low of $40.27 and a 12-month high of $66.39. The business has a 50-day simple moving average of $58.64 and a two-hundred day simple moving average of $58.59.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping 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 firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the firm posted $1.39 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several analyst reports. 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. Keefe, Bruyette & Woods dropped their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. BMO Capital Markets raised 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 research note on Thursday, July 11th. 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 note on Monday, October 14th. Finally, Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.