Telos Capital Management Inc. Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Telos Capital Management Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,726 shares of the financial services provider’s stock after selling 3,440 shares during the quarter. Telos Capital Management Inc.’s holdings in Wells Fargo & Company were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ellenbecker Investment Group raised its holdings in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the last quarter. John W. Brooker & Co. CPAs raised its holdings in Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares during the last quarter. McAdam LLC raised its holdings in Wells Fargo & Company by 3.3% during the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 178 shares during the last quarter. Eclectic Associates Inc. ADV raised its holdings in Wells Fargo & Company by 1.2% during the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 178 shares during the last quarter. Finally, Prentice Wealth Management LLC raised its holdings in Wells Fargo & Company by 2.0% during the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 184 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business’s 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 of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $64.02 on Tuesday. The firm has a market capitalization of $223.19 billion, a P/E ratio of 13.15, a PEG ratio of 1.46 and a beta of 1.16. The stock has a fifty day moving average price of $56.74 and a 200 day moving average price of $58.05. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $64.78. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI lifted their price objective on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Piper Sandler boosted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Compass Point boosted their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.82.

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.