SWS Partners Trims Stake in Wells Fargo & Company (NYSE:WFC)

SWS Partners trimmed its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,168 shares of the financial services provider's stock after selling 19,691 shares during the quarter. SWS Partners' holdings in Wells Fargo & Company were worth $2,665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the second quarter worth $26,000. Valued Wealth Advisors LLC lifted its holdings 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 buying an additional 220 shares during the period. J.Safra Asset Management Corp boosted its position in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth about $47,000. 75.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $0.88 on Tuesday, hitting $63.04. 24,687,186 shares of the stock traded hands, compared to its average volume of 18,081,809. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The business's fifty day moving average is $55.59 and its two-hundred day moving average is $57.82. Wells Fargo & Company has a 12 month low of $38.58 and a 12 month high of $63.82. The firm has a market capitalization of $219.78 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping 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 12.30% and a net margin of 15.17%. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.12 EPS 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. Investors of record on Friday, August 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.54%. Wells Fargo & Company's dividend payout ratio (DPR) is 32.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and raised their target price for the stock from $60.83 to $65.00 in a research note on Tuesday. Jefferies Financial Group lowered shares of Wells Fargo & Company to a "hold" rating and lowered their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. BMO Capital Markets lifted their price target 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, Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, September 30th. Thirteen investment 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.