Verdence Capital Advisors LLC Buys 12,713 Shares of Wells Fargo & Company (NYSE:WFC)

Verdence Capital Advisors LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,346 shares of the financial services provider's stock after acquiring an additional 12,713 shares during the period. Verdence Capital Advisors LLC's holdings in Wells Fargo & Company were worth $2,731,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Beta Wealth Group Inc. boosted its holdings in Wells Fargo & Company by 3.8% during the third quarter. Beta Wealth Group Inc. now owns 8,422 shares of the financial services provider's stock valued at $476,000 after purchasing an additional 306 shares in the last quarter. First Fiduciary Investment Counsel Inc. acquired a new stake in Wells Fargo & Company during the third quarter valued at approximately $298,000. Holistic Planning LLC boosted its holdings in Wells Fargo & Company by 61.3% during the third quarter. Holistic Planning LLC now owns 7,329 shares of the financial services provider's stock valued at $414,000 after purchasing an additional 2,786 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Wells Fargo & Company during the third quarter valued at approximately $2,300,000. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Wells Fargo & Company by 1.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 21,342 shares of the financial services provider's stock worth $1,206,000 after acquiring an additional 281 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Beurden Saul Van sold 35,000 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares of the company's stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating on the stock in a report on Monday, July 15th. Piper Sandler boosted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Monday, October 14th. The Goldman Sachs Group reduced their target price 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. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 price objective 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Hold" and an average price target of $62.12.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC traded up $0.62 during trading hours on Friday, reaching $70.04. The stock had a trading volume of 14,270,937 shares, compared to its average volume of 20,588,524. 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 has a 52 week low of $40.27 and a 52 week high of $74.27. The firm has a 50-day moving average of $59.59 and a 200 day moving average of $58.86. The company has a market cap of $233.20 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.63 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during 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%. The company's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 5.39 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid 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 2.28%. Wells Fargo & Company's dividend payout ratio is 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.