Wells Fargo & Company (NYSE:WFC) Shares Acquired by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 16.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,829 shares of the financial services provider's stock after purchasing an additional 18,717 shares during the quarter. Chartwell Investment Partners LLC's holdings in Wells Fargo & Company were worth $7,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Income Research & Management purchased a new position in shares of Wells Fargo & Company during the third quarter worth about $211,000. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $26,000. Valued Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 220 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 0.1 %

NYSE:WFC traded up $0.04 during trading hours on Tuesday, reaching $72.60. 16,939,453 shares of the stock were exchanged, compared to its average volume of 18,136,184. The stock has a market cap of $241.72 billion, a PE ratio of 15.03, a PEG ratio of 1.57 and a beta of 1.14. The firm has a 50 day moving average of $59.87 and a 200 day moving average of $58.92. 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 twelve month low of $40.53 and a twelve month high of $74.27.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate 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 business had revenue of $20.37 billion during the quarter, compared to analysts' expectations of $20.40 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The firm's revenue was down 2.4% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.39 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. Investors of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Wells Fargo & Company's dividend payout ratio is presently 33.26%.

Insider Transactions at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the company's stock in a transaction 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 directly owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company'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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Piper Sandler upped 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. 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 research report on Tuesday, September 3rd. Compass Point increased their price objective 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. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $62.12.

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.