Wells Fargo & Company (NYSE:WFC) Shares Bought by Black Diamond Financial LLC

Black Diamond Financial LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 21.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,663 shares of the financial services provider’s stock after purchasing an additional 808 shares during the period. Black Diamond Financial LLC’s holdings in Wells Fargo & Company were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. lifted its holdings in Wells Fargo & Company by 53.7% in the 3rd quarter. Cornercap Investment Counsel Inc. now owns 52,925 shares of the financial services provider’s stock worth $2,990,000 after buying an additional 18,493 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Wells Fargo & Company by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 579,985 shares of the financial services provider’s stock worth $32,763,000 after buying an additional 20,053 shares in the last quarter. Intelligence Driven Advisers LLC lifted its holdings in Wells Fargo & Company by 10.8% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 8,179 shares of the financial services provider’s stock worth $462,000 after buying an additional 794 shares in the last quarter. Lummis Asset Management LP lifted its holdings in Wells Fargo & Company by 0.7% in the 3rd quarter. Lummis Asset Management LP now owns 28,074 shares of the financial services provider’s stock worth $1,586,000 after buying an additional 196 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its holdings in Wells Fargo & Company by 9.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 32,021 shares of the financial services provider’s stock worth $1,809,000 after buying an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WFC. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and cut their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $62.12.

Wells Fargo & Company Trading Up 0.0 %

Shares of NYSE WFC opened at $72.80 on Friday. Wells Fargo & Company has a 12 month low of $41.99 and a 12 month high of $74.27. The company has a market cap of $242.39 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 1.52 and a beta of 1.14. 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 business has a fifty day simple moving average of $60.45 and a 200-day simple moving average of $59.11.

Wells Fargo & Company (NYSE:WFC) last announced 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 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Wells Fargo & Company’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Insider Activity

In related news, 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 value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale 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 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % 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 company insiders.

Wells Fargo & 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.