Integrated Investment Consultants LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Integrated Investment Consultants LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 8,345 shares of the financial services provider’s stock, valued at approximately $471,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trustmark National Bank Trust Department increased its stake in Wells Fargo & Company by 13.9% during the 3rd quarter. Trustmark National Bank Trust Department now owns 4,813 shares of the financial services provider’s stock valued at $272,000 after buying an additional 587 shares during the period. Intech Investment Management LLC increased its stake in shares of Wells Fargo & Company by 33.6% during the third quarter. Intech Investment Management LLC now owns 135,555 shares of the financial services provider’s stock valued at $7,658,000 after acquiring an additional 34,068 shares during the period. King Luther Capital Management Corp raised its holdings in Wells Fargo & Company by 1.4% during the third quarter. King Luther Capital Management Corp now owns 85,680 shares of the financial services provider’s stock worth $4,840,000 after purchasing an additional 1,200 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in Wells Fargo & Company by 4.1% in the third quarter. Citizens Financial Group Inc. RI now owns 167,011 shares of the financial services provider’s stock worth $9,434,000 after purchasing an additional 6,631 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in Wells Fargo & Company by 1.3% during the 3rd quarter. Moors & Cabot Inc. now owns 51,733 shares of the financial services provider’s stock valued at $2,922,000 after purchasing an additional 651 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on 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 owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

Wells Fargo & Company Trading Up 1.7 %

NYSE WFC opened at $74.83 on Friday. The company has a market capitalization of $249.15 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.14. Wells Fargo & Company has a 1-year low of $42.40 and a 1-year high of $76.04. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $62.81 and its 200-day simple moving average is $59.70.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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 analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared 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 is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Compass Point lifted their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler increased their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Thirteen 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 data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $63.07.

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.