11,247 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Harmony Asset Management LLC

Harmony Asset Management LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,247 shares of the financial services provider’s stock, valued at approximately $635,000.

Other large investors also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new position in Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the second quarter worth $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter worth $29,000. MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company during the 3rd quarter valued at $34,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company in the third quarter worth $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Activity

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $3,822,000.00. Following the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Stock Down 1.1 %

Shares of NYSE WFC opened at $75.32 on Tuesday. Wells Fargo & Company has a 12-month low of $44.41 and a 12-month high of $78.13. The stock’s fifty day simple moving average is $65.48 and its two-hundred 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 $250.78 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping 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 company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analysts Set New Price Targets

Several brokerages have commented on WFC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Morgan Stanley decreased their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Phillip Securities raised 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 report on Tuesday, October 15th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Thirteen investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.