Wells Fargo & Company (NYSE:WFC) Position Lowered by Hardy Reed LLC

Hardy Reed LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 80.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,349 shares of the financial services provider's stock after selling 21,723 shares during the quarter. Hardy Reed LLC's holdings in Wells Fargo & Company were worth $302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $160,529,000. Marshall Wace LLP boosted its stake in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock valued at $138,493,000 after purchasing an additional 2,404,898 shares during the period. Rokos Capital Management LLP grew its position in Wells Fargo & Company by 141.6% in the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider's stock worth $151,853,000 after purchasing an additional 1,536,152 shares during the last quarter. National Pension Service grew its position in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & Company by 4.4% in 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 purchasing an additional 831,975 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 163,610 shares of the company's stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was 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 Analyst Weigh In

A number of equities analysts recently issued reports on WFC shares. Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and increased their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Piper Sandler raised their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Monday, October 14th. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Wolfe Research raised 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 note on Tuesday, October 8th. Finally, Compass Point boosted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $63.07.

Wells Fargo & Company Stock Up 0.5 %

Shares of NYSE:WFC opened at $77.31 on Wednesday. The firm has a 50 day simple moving average of $64.20 and a 200 day simple moving average of $60.01. Wells Fargo & Company has a 52 week low of $42.52 and a 52 week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $257.40 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.60 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, beating analysts' consensus estimates 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 return on equity of 12.25% and a net margin of 14.43%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company's dividend payout ratio is 33.26%.

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.

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