OLD National Bancorp IN Sells 51,816 Shares of Wells Fargo & Company (NYSE:WFC)

OLD National Bancorp IN cut its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 454,319 shares of the financial services provider's stock after selling 51,816 shares during the quarter. OLD National Bancorp IN's holdings in Wells Fargo & Company were worth $25,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the second quarter valued at about $26,000. Valued Wealth Advisors LLC raised its position 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 worth $37,000 after acquiring an additional 220 shares during the period. J.Safra Asset Management Corp boosted its stake 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 valued at $43,000 after acquiring an additional 648 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $47,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WFC shares. Evercore ISI upped 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, October 14th. Royal Bank of Canada reiterated a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Compass Point boosted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, October 15th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $61.82.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.02 during mid-day trading on Friday, reaching $64.36. 19,234,041 shares of the company were exchanged, compared to its average volume of 18,069,352. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $64.78. The company's 50 day moving average price is $56.50 and its 200 day moving average price is $58.00. The stock has a market capitalization of $224.38 billion, a PE ratio of 13.22, a PEG ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. Sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 annualized dividend and a dividend yield of 2.49%. Wells Fargo & Company's dividend payout ratio (DPR) is 32.85%.

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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

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.