Bank of Hawaii Has $267,000 Stake in Wells Fargo & Company (NYSE:WFC)

Bank of Hawaii lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,731 shares of the financial services provider’s stock after selling 920 shares during the period. Bank of Hawaii’s holdings in Wells Fargo & Company were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WFC. Canoe Financial LP acquired a new position in shares of Wells Fargo & Company during the third quarter valued at about $160,529,000. Marshall Wace LLP increased its position in Wells Fargo & Company by 3,295.6% in the 2nd 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 in the last quarter. Rokos Capital Management LLP raised its stake in 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. National Pension Service raised its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after acquiring an additional 831,975 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Wells Fargo & Company

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 21.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the company’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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $76.88 on Tuesday. The business’s fifty day simple moving average is $63.74 and its 200 day simple moving average is $59.91. 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 $42.52 and a 12 month high of $77.31. The firm has a market capitalization of $255.97 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.58 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 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Compass Point boosted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. 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. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Morgan Stanley lowered 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 report 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $63.07.

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.