Wells Fargo & Company (NYSE:WFC) Shares Bought by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. grew its holdings in Wells Fargo & Company (NYSE:WFC) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,021 shares of the financial services provider’s stock after buying an additional 2,800 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,809,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WFC. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the 2nd quarter valued at $26,000. Valued Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 53.7% during 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 last quarter. Fairscale Capital LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth $47,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Wells Fargo & Company by 54.5% in the second quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock valued at $51,000 after buying an additional 305 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WFC. Piper Sandler raised their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. 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 report on Tuesday, October 8th. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Compass Point lifted their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.12.

Insider Transactions at Wells Fargo & Company

In related news, 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Trading Up 0.0 %

Shares of NYSE WFC opened at $72.80 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $242.39 billion, a PE ratio of 15.14, a PEG ratio of 1.52 and a beta of 1.14. Wells Fargo & Company has a twelve month low of $41.99 and a twelve month high of $74.27. The stock has a fifty day simple moving average of $60.45 and a 200-day simple moving average of $59.11.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion during 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 was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.39 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

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.