F M Investments LLC Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

F M Investments LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 77.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,396 shares of the financial services provider's stock after selling 128,800 shares during the period. F M Investments LLC's holdings in Wells Fargo & Company were worth $2,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Capital Management Investments LLC purchased a new stake in Wells Fargo & Company in the third quarter worth $113,000. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Wells Fargo & Company by 0.7% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 57,035 shares of the financial services provider's stock worth $3,222,000 after purchasing an additional 402 shares during the last quarter. Americana Partners LLC boosted its holdings in Wells Fargo & Company by 6.1% in the third quarter. Americana Partners LLC now owns 8,790 shares of the financial services provider's stock valued at $497,000 after purchasing an additional 503 shares during the last quarter. Gladstone Institutional Advisory LLC increased its holdings in shares of Wells Fargo & Company by 259.6% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 34,403 shares of the financial services provider's stock valued at $1,943,000 after purchasing an additional 24,835 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in Wells Fargo & Company by 3.3% during the third quarter. Interchange Capital Partners LLC now owns 8,215 shares of the financial services provider's stock worth $464,000 after purchasing an additional 265 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was 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 in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 company's stock in a transaction dated Monday, October 14th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on WFC shares. Royal Bank of Canada restated a "sector perform" rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Compass Point raised their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, October 15th. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and increased their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $62.12.

Wells Fargo & Company Stock Down 0.4 %

Shares of WFC stock traded down $0.24 during trading hours on Friday, hitting $64.68. 13,313,938 shares of the company were exchanged, compared to its average volume of 17,948,670. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $220.16 billion, a PE ratio of 13.45, a PEG ratio of 1.46 and a beta of 1.14. The business has a 50 day moving average of $58.50 and a two-hundred day moving average of $58.56. Wells Fargo & Company has a 52 week low of $39.39 and a 52 week high of $66.39.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to analysts' expectations of $20.40 billion. During the same period in the prior year, the firm earned $1.39 EPS. Wells Fargo & Company's quarterly revenue was down 2.4% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is presently 33.26%.

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.