Pathstone Holdings LLC Sells 19,155 Shares of Wells Fargo & Company (NYSE:WFC)

Pathstone Holdings LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 355,242 shares of the financial services provider's stock after selling 19,155 shares during the quarter. Pathstone Holdings LLC's holdings in Wells Fargo & Company were worth $20,068,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Income Research & Management bought a new position in shares of Wells Fargo & Company in the third quarter worth about $211,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $34,000. Finally, Valued Wealth Advisors LLC raised its position in Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock worth $37,000 after buying an additional 220 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.15 during trading on Wednesday, reaching $73.58. The stock had a trading volume of 14,309,574 shares, compared to its average volume of 18,099,178. The business's 50-day moving average price is $61.95 and its 200 day moving average price is $59.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 52 week low of $42.15 and a 52 week high of $74.70. The stock has a market capitalization of $244.98 billion, a PE ratio of 15.22, 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analysts' expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's payout ratio is currently 33.26%.

Insider Buying and Selling

In other news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares of the company's stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction 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 position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research reports. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Compass Point lifted their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Hold" and a consensus price target of $63.07.

About Wells Fargo & Company

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.