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

Wells Fargo & Company (NYSE:WFC) EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The stock was 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 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 filing with the SEC, which can be accessed through this hyperlink.

Wells Fargo & Company Price Performance

WFC opened at $63.86 on Thursday. The company has a market capitalization of $222.64 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.46 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $64.08. The business’s fifty day simple moving average is $56.04 and its 200-day simple moving average is $57.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. 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 currently 32.85%.

Hedge Funds Weigh In On Wells Fargo & Company

Large investors have recently bought and sold shares of the business. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the second quarter valued at about $26,000. Valued Wealth Advisors LLC grew its stake in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at about $47,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WFC. Evercore ISI raised their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler raised their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley cut their price objective on shares of 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. BMO Capital Markets increased 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. Finally, Compass Point lifted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.82.

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.