OneAscent Financial Services LLC Invests $1.13 Million in Wells Fargo & Company (NYSE:WFC)

OneAscent Financial Services LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,013 shares of the financial services provider's stock, valued at approximately $1,131,000. Wells Fargo & Company makes up about 0.8% of OneAscent Financial Services LLC's portfolio, making the stock its 24th biggest position.

Several other institutional investors have also recently bought and sold shares of WFC. Lake Street Advisors Group LLC increased its stake in shares of Wells Fargo & Company by 98.9% in the first quarter. Lake Street Advisors Group LLC now owns 24,921 shares of the financial services provider's stock valued at $1,444,000 after buying an additional 12,394 shares during the period. Oxford Financial Group LTD. LLC boosted its holdings in Wells Fargo & Company by 7.4% in the first quarter. Oxford Financial Group LTD. LLC now owns 5,115 shares of the financial services provider's stock valued at $296,000 after acquiring an additional 354 shares during the last quarter. MQS Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at approximately $359,000. Crewe Advisors LLC bought a new stake in Wells Fargo & Company in the first quarter valued at approximately $302,000. Finally, Payden & Rygel Investment Group bought a new position in shares of Wells Fargo & Company during the 1st quarter worth approximately $26,314,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Insider Transactions at Wells Fargo & Company

In related news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % 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.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.66 on Tuesday, hitting $73.43. 15,368,670 shares of the stock were exchanged, compared to its average volume of 18,115,592. Wells Fargo & Company has a one year low of $42.15 and a one year high of $74.70. The firm's 50 day moving average is $61.95 and its two-hundred day moving average is $59.49. 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 firm has a market capitalization of $244.48 billion, a PE ratio of 15.27, a P/E/G ratio of 1.55 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to analysts' expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.39 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 33.26%.

Analysts Set New Price Targets

A number of research firms have issued reports on WFC. Wolfe Research upgraded 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. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and increased their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Morgan Stanley cut their price target on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $63.07.

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.