GFS Advisors LLC Has $280,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

GFS Advisors LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 1,137.0% during the third quarter, Holdings Channel reports. The firm owned 4,948 shares of the financial services provider’s stock after purchasing an additional 4,548 shares during the period. GFS Advisors LLC’s holdings in Wells Fargo & Company were worth $280,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Canoe Financial LP acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. Marshall Wace LLP lifted its stake in Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after buying an additional 2,349,595 shares in the last quarter. Rokos Capital Management LLP grew its position in shares of Wells Fargo & Company by 141.6% during 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 buying an additional 1,536,152 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after acquiring an additional 1,415,647 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $64.68 on Friday. Wells Fargo & Company has a fifty-two week low of $39.39 and a fifty-two week high of $66.39. The firm has a 50-day moving average of $58.50 and a 200 day moving average of $58.55. 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 firm has a market cap of $220.16 billion, a P/E ratio of 13.45, a PEG ratio of 1.46 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.36 EPS 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. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.12.

Insider Activity

In related news, 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 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Wells Fargo & Company 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 value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.