Wells Fargo & Company (NYSE:WFC) EVP Ather Williams III Sells 60,000 Shares

Wells Fargo & Company (NYSE:WFC) EVP Ather Williams III sold 60,000 shares of the 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $63.86 on Thursday. The firm has a market capitalization of $222.64 billion, a P/E ratio of 13.11, a PEG ratio of 1.46 and a beta of 1.16. The stock has a 50-day simple moving average of $56.04 and a two-hundred day simple moving average of $57.90. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $64.08.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the company earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WFC. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a research note on Tuesday. Finally, Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday. Thirteen 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.82.

Hedge Funds Weigh In On Wells Fargo & Company

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Wells Fargo & Company by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after buying an additional 831,975 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP grew its position in shares of Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock valued at $313,500,000 after acquiring an additional 108,480 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Wells Fargo & Company by 38.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after acquiring an additional 1,415,647 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Wells Fargo & Company by 1.0% in the 1st quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock valued at $270,035,000 after purchasing an additional 48,419 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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.