Wells Fargo & Company (NYSE:WFC) Shares Acquired by Concord Asset Management LLC VA

Concord Asset Management LLC VA increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,179 shares of the financial services provider’s stock after acquiring an additional 191 shares during the period. Concord Asset Management LLC VA’s holdings in Wells Fargo & Company were worth $293,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Cardinal Capital Management Inc. lifted its stake in shares of Wells Fargo & Company by 2.0% in the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after purchasing an additional 11,037 shares during the period. Chartwell Investment Partners LLC increased its stake in Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares in the last quarter. Argus Investors Counsel Inc. raised its holdings in Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in Wells Fargo & Company by 111.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock worth $1,947,000 after purchasing an additional 18,138 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Wells Fargo & Company by 5.6% in the third quarter. Assetmark Inc. now owns 382,717 shares of the financial services provider’s stock valued at $21,620,000 after buying an additional 20,149 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $74.34 on Friday. Wells Fargo & Company has a 52-week low of $41.99 and a 52-week high of $74.41. The stock’s fifty day simple moving average is $61.17 and its 200-day simple moving average is $59.30. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $247.51 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.55 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (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 for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Analysts Set New Price Targets

Several equities research analysts recently commented on WFC shares. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Morgan Stanley dropped their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Thirteen investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.12.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’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 transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.