Wells Fargo & Company (NYSE:WFC) EVP Kleber Santos Sells 25,000 Shares

Wells Fargo & Company (NYSE:WFC) EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares in the company, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wells Fargo & Company Stock Up 1.2%

Shares of NYSE:WFC traded up $1.04 during trading on Friday, hitting $88.61. The company’s stock had a trading volume of 14,241,940 shares, compared to its average volume of 16,199,527. The company has a market capitalization of $278.17 billion, a PE ratio of 14.13, a PEG ratio of 0.97 and a beta of 1.09. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The stock’s 50-day moving average price is $91.57 and its two-hundred day moving average price is $86.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. During the same period in the previous year, the business earned $1.43 EPS. Wells Fargo & Company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Hedge Funds Weigh In On Wells Fargo & Company

Institutional investors have recently modified their holdings of the company. Hilton Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $3,656,000. Mawer Investment Management Ltd. acquired a new stake in Wells Fargo & Company during the 3rd quarter worth about $147,165,000. AlphaQuest LLC raised its holdings in Wells Fargo & Company by 1,121.0% during the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock worth $2,018,000 after buying an additional 22,107 shares during the period. Guerra Advisors Inc lifted its stake in Wells Fargo & Company by 43.2% during the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 11,594 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Wells Fargo & Company by 54.2% in the third quarter. Smartleaf Asset Management LLC now owns 38,088 shares of the financial services provider’s stock worth $3,224,000 after buying an additional 13,393 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WFC. Truist Financial cut their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. HSBC reiterated a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Wolfe Research reissued an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. UBS Group reiterated a “buy” rating and set a $113.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Finally, Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target for the company in a report on Friday, February 13th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.