InvesTrust Acquires Shares of 116,793 Wells Fargo & Company (NYSE:WFC)

InvesTrust purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 116,793 shares of the financial services provider's stock, valued at approximately $8,210,000. Wells Fargo & Company comprises about 2.3% of InvesTrust's holdings, making the stock its 8th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Worth Asset Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $2,327,000. Spartan Planning & Wealth Management purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $425,000. Diversified Trust Co lifted its holdings in Wells Fargo & Company by 41.6% during the fourth quarter. Diversified Trust Co now owns 34,468 shares of the financial services provider's stock worth $2,421,000 after acquiring an additional 10,133 shares during the period. Bank of New Hampshire boosted its position in Wells Fargo & Company by 24.2% in the fourth quarter. Bank of New Hampshire now owns 1,515 shares of the financial services provider's stock worth $106,000 after purchasing an additional 295 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida bought a new position in Wells Fargo & Company in the 4th quarter valued at $355,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WFC. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Truist Financial began coverage on shares of Wells Fargo & Company in a research report on Tuesday. They issued a "buy" rating and a $82.00 price objective on the stock. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley decreased their target price on 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. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average price target of $69.24.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $0.04 on Wednesday, reaching $71.55. The company's stock had a trading volume of 16,540,696 shares, compared to its average volume of 12,447,129. The company has a market capitalization of $238.23 billion, a P/E ratio of 14.88, a PEG ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The stock's 50 day simple moving average is $71.77 and its 200-day simple moving average is $62.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly 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. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion for the quarter, compared to analysts' expectations of $20.40 billion. During the same quarter last year, the firm posted $1.39 EPS. The company's revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 33.26%.

Insider Transactions at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the company's 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 sale, the executive vice president now owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wells Fargo & 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.