PFW Advisors LLC Buys New Shares in Wells Fargo & Company (NYSE:WFC)

PFW Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,032 shares of the financial services provider’s stock, valued at approximately $775,000.

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

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.63 during trading hours on Monday, reaching $70.59. The stock had a trading volume of 10,437,806 shares, compared to its average volume of 12,562,359. The stock has a market cap of $235.03 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The stock has a 50 day simple moving average of $72.13 and a 200 day simple moving average of $62.97. 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 has a 12-month low of $46.12 and a 12-month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Wolfe Research upgraded 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 note on Tuesday, October 8th. Finally, 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 research note on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Wells Fargo & Company 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.