Wells Fargo & Company (NYSE:WFC) Holdings Raised by Point72 Europe London LLP

Point72 Europe London LLP grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 106.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 391,025 shares of the financial services provider’s stock after buying an additional 201,725 shares during the period. Wells Fargo & Company comprises approximately 1.4% of Point72 Europe London LLP’s portfolio, making the stock its 10th biggest holding. Point72 Europe London LLP’s holdings in Wells Fargo & Company were worth $22,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of WFC. Cardinal Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 2.0% in the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in shares of Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after acquiring an additional 18,717 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 26,320 shares during the period. Argus Investors Counsel Inc. grew its holdings in shares of Wells Fargo & Company by 34.6% in the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after purchasing an additional 8,107 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its position in Wells Fargo & Company by 111.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock valued at $1,947,000 after purchasing an additional 18,138 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Compass Point increased their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.07.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $76.20 on Friday. The stock’s fifty day simple moving average is $65.48 and its 200 day simple moving average is $60.36. Wells Fargo & Company has a 12 month low of $43.48 and a 12 month high of $78.13. 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 company has a market capitalization of $253.71 billion, a PE ratio of 15.84, a PEG ratio of 1.61 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion for 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%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. On average, research analysts predict 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 dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Insider Activity at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed 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 on 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 sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was 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 owned by company insiders.

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.