FSA Wealth Management LLC Buys New Shares in Wells Fargo & Company (NYSE:WFC)

FSA Wealth Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 598 shares of the financial services provider’s stock, valued at approximately $34,000.

Several other institutional investors have also added to or reduced their stakes in WFC. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter valued at approximately $29,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $34,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler upped their price target 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. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group reduced their target price on 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. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.07.

Wells Fargo & Company Stock Performance

WFC stock opened at $76.17 on Monday. Wells Fargo & Company has a 12-month low of $43.48 and a 12-month high of $78.13. The stock’s 50 day simple moving average is $65.48 and its 200 day simple moving average is $60.33. 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 stock has a market capitalization of $253.61 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

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.