Wells Fargo & Company (NYSE:WFC) Stock Position Increased by Regal Partners Ltd

Regal Partners Ltd increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 902,443 shares of the financial services provider's stock after purchasing an additional 51,826 shares during the quarter. Wells Fargo & Company comprises about 4.5% of Regal Partners Ltd's holdings, making the stock its 7th largest position. Regal Partners Ltd's holdings in Wells Fargo & Company were worth $50,979,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in WFC. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider's stock valued at $1,178,591,000 after buying an additional 831,975 shares during the period. National Pension Service boosted its stake in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after buying an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock valued at $375,183,000 after buying an additional 162,066 shares during the period. 1832 Asset Management L.P. boosted its stake in Wells Fargo & Company by 67.1% during the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock valued at $339,226,000 after buying an additional 2,349,595 shares during the period. Finally, First Pacific Advisors LP boosted its stake in Wells Fargo & Company by 2.1% during the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider's stock valued at $313,500,000 after buying an additional 108,480 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.0 %

NYSE:WFC traded up $0.03 during mid-day trading on Thursday, reaching $72.80. 13,653,483 shares of the company's stock traded hands, compared to its average volume of 18,123,094. Wells Fargo & Company has a 12-month low of $41.99 and a 12-month high of $74.27. The firm has a market capitalization of $242.39 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day moving average price of $60.45 and a 200-day moving average price of $59.11.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly 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 return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the business earned $1.39 EPS. Wells Fargo & Company's revenue was down 2.4% compared to the same quarter last year. On average, 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 company also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company's dividend payout ratio (DPR) is 33.26%.

Wall Street Analyst Weigh In

WFC has been the subject of several research analyst reports. Evercore ISI lifted their price target 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. Royal Bank of Canada reaffirmed 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. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Monday, October 14th. Finally, Compass Point lifted their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $62.12.

Insiders Place Their Bets

In related news, EVP Ather Williams III sold 60,000 shares of the company's 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 sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % 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.