Wells Fargo & Company (NYSE:WFC) Stock Holdings Decreased by Qsemble Capital Management LP

Qsemble Capital Management LP trimmed its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 32.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 56,116 shares of the financial services provider's stock after selling 27,424 shares during the period. Qsemble Capital Management LP's holdings in Wells Fargo & Company were worth $3,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $211,000. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $29,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WFC. Jefferies Financial Group lowered shares of Wells Fargo & Company to a "hold" rating and lowered their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Royal Bank of Canada restated a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Wolfe Research upgraded 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 report on Tuesday, October 8th. Finally, Piper Sandler upped their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. Thirteen 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.07.

Wells Fargo & Company Trading Up 0.5 %

Shares of WFC traded up $0.41 on Tuesday, hitting $77.31. 19,138,566 shares of the stock traded hands, compared to its average volume of 18,144,773. Wells Fargo & Company has a 1 year low of $42.52 and a 1 year high of $78.13. The stock's 50 day moving average is $64.20 and its two-hundred day moving average is $60.01. The firm has a market capitalization of $257.40 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.58 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $20.37 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Insiders Place Their Bets

In related 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.