Mount Yale Investment Advisors LLC Has $1.86 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mount Yale Investment Advisors LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 14.7% in the third quarter, Holdings Channel.com reports. The firm owned 32,982 shares of the financial services provider’s stock after selling 5,689 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,863,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Cardinal Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after buying an additional 11,037 shares during the last quarter. Argus Investors Counsel Inc. grew its position in shares of Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after acquiring an additional 8,107 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Wells Fargo & Company by 28.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock valued at $27,441,000 after purchasing an additional 106,260 shares during the period. FORVIS Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 154.2% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 16,515 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in Wells Fargo & Company by 40.0% during the second quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock worth $10,648,000 after buying an additional 51,234 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Morgan Stanley decreased their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Finally, BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $61.82.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $65.43 on Friday. The stock’s 50-day moving average is $57.20 and its 200-day moving average is $58.15. The stock has a market cap of $222.71 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $65.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 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 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 was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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 is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.45%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 163,610 shares in the company, 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. 0.08% of the stock is owned by insiders.

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.