DMC Group LLC Sells 1,219 Shares of Wells Fargo & Company (NYSE:WFC)

DMC Group LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,373 shares of the financial services provider’s stock after selling 1,219 shares during the quarter. DMC Group LLC’s holdings in Wells Fargo & Company were worth $1,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cardinal Capital Management Inc. lifted its holdings in 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 worth $32,505,000 after purchasing an additional 11,037 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after buying an additional 1,835 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in 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 worth $27,441,000 after acquiring an additional 106,260 shares during the period. FORVIS Wealth Advisors LLC raised its holdings 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 worth $1,578,000 after acquiring an additional 16,515 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in Wells Fargo & Company by 40.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 179,282 shares of the financial services provider’s stock worth $10,648,000 after acquiring an additional 51,234 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0 %

Shares of WFC opened at $64.36 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock has a market cap of $224.38 billion, a PE ratio of 13.22, a PEG 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 $64.78. The stock has a 50 day simple moving average of $56.50 and a 200-day simple moving average of $58.00.

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 (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 during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Insider Buying and Selling at Wells Fargo & Company

In related news, 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 directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, 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 owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on WFC shares. BMO Capital Markets lifted their price objective on 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. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Piper Sandler boosted 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 report on Monday, October 14th. Finally, Compass Point upped their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $61.82.

About Wells Fargo & Company

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.