Mcdonald Capital Investors Inc. CA Sells 61,019 Shares of Wells Fargo & Company (NYSE:WFC)

Mcdonald Capital Investors Inc. CA decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 900,311 shares of the financial services provider’s stock after selling 61,019 shares during the quarter. Wells Fargo & Company comprises approximately 3.1% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 14th biggest holding. Mcdonald Capital Investors Inc. CA’s holdings in Wells Fargo & Company were worth $50,859,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WFC. Advisory Services Network LLC increased its position in shares of Wells Fargo & Company by 36.3% in the 1st quarter. Advisory Services Network LLC now owns 101,071 shares of the financial services provider’s stock valued at $5,858,000 after buying an additional 26,895 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Wells Fargo & Company by 3.2% in the first quarter. Empirical Finance LLC now owns 137,747 shares of the financial services provider’s stock worth $7,984,000 after acquiring an additional 4,335 shares in the last quarter. AIA Group Ltd raised its position in shares of Wells Fargo & Company by 177.3% during the first quarter. AIA Group Ltd now owns 69,892 shares of the financial services provider’s stock worth $4,051,000 after purchasing an additional 44,692 shares during the period. Karpas Strategies LLC lifted its holdings in shares of Wells Fargo & Company by 0.4% during the 1st quarter. Karpas Strategies LLC now owns 66,470 shares of the financial services provider’s stock valued at $3,853,000 after purchasing an additional 243 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in Wells Fargo & Company during the 1st quarter worth approximately $896,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFC. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Piper Sandler boosted 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. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.12.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $71.18 on Thursday. The company has a fifty day moving average price of $59.11 and a two-hundred day moving average price of $58.72. Wells Fargo & Company has a one year low of $40.27 and a one year high of $74.27. The stock has a market cap of $236.99 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.44 and a beta of 1.14. 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 (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. The business 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%. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.36 EPS 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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.