Wells Fargo & Company (NYSE:WFC) Shares Acquired by Investors Research Corp

Investors Research Corp increased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.2% in the third quarter, Holdings Channel.com reports. The firm owned 13,461 shares of the financial services provider’s stock after purchasing an additional 160 shares during the period. Investors Research Corp’s holdings in Wells Fargo & Company were worth $760,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in Wells Fargo & Company by 1.6% during the third quarter. Pacer Advisors Inc. now owns 252,386 shares of the financial services provider’s stock worth $14,257,000 after buying an additional 4,061 shares during the period. Integrated Investment Consultants LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth $471,000. Trustmark National Bank Trust Department lifted its stake in shares of Wells Fargo & Company by 13.9% in the third quarter. Trustmark National Bank Trust Department now owns 4,813 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 587 shares in the last quarter. Intech Investment Management LLC increased its holdings in Wells Fargo & Company by 33.6% during the 3rd quarter. Intech Investment Management LLC now owns 135,555 shares of the financial services provider’s stock worth $7,658,000 after purchasing an additional 34,068 shares during the last quarter. Finally, King Luther Capital Management Corp raised its position in shares of Wells Fargo & Company by 1.4% in the 3rd quarter. King Luther Capital Management Corp now owns 85,680 shares of the financial services provider’s stock valued at $4,840,000 after purchasing an additional 1,200 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 1.2 %

Shares of WFC stock traded up $0.90 on Thursday, reaching $74.48. The company had a trading volume of 1,650,248 shares, compared to its average volume of 18,022,771. The stock has a market cap of $247.98 billion, a PE ratio of 15.30, a PEG ratio of 1.53 and a beta of 1.14. The company has a 50-day moving average of $62.35 and a 200-day moving average of $59.59. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $42.40 and a 12 month high of $74.72.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were 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 owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several research reports. Morgan Stanley dropped their price target 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. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Evercore ISI raised their target price on 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, Compass Point increased their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.07.

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.