Wells Fargo & Company $WFC Shares Sold by Vestcor Inc

Vestcor Inc lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 39.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,236 shares of the financial services provider’s stock after selling 42,373 shares during the quarter. Vestcor Inc’s holdings in Wells Fargo & Company were worth $5,384,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WFC. Fieldview Capital Management LLC raised its stake in Wells Fargo & Company by 147.0% during the 3rd quarter. Fieldview Capital Management LLC now owns 25,073 shares of the financial services provider’s stock valued at $2,102,000 after acquiring an additional 14,924 shares during the last quarter. LGT Group Foundation grew its stake in shares of Wells Fargo & Company by 1.6% in the 3rd quarter. LGT Group Foundation now owns 300,897 shares of the financial services provider’s stock valued at $24,334,000 after purchasing an additional 4,809 shares during the last quarter. Fort Sheridan Advisors LLC grew its stake in shares of Wells Fargo & Company by 3.4% in the 3rd quarter. Fort Sheridan Advisors LLC now owns 24,270 shares of the financial services provider’s stock valued at $2,034,000 after purchasing an additional 800 shares during the last quarter. PFG Advisors grew its stake in shares of Wells Fargo & Company by 4.8% in the 3rd quarter. PFG Advisors now owns 12,606 shares of the financial services provider’s stock valued at $1,057,000 after purchasing an additional 580 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its stake in shares of Wells Fargo & Company by 0.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 25,959 shares of the financial services provider’s stock valued at $2,266,000 after purchasing an additional 241 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Barclays lifted their price objective on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Argus upped their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research note on Friday, February 13th. Finally, CICC Research initiated coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Wells Fargo & Company Trading Down 2.1%

Shares of WFC stock opened at $78.76 on Tuesday. The business’s fifty day moving average price is $89.15 and its 200 day moving average price is $86.66. The firm has a market capitalization of $243.03 billion, a PE ratio of 12.56, a P/E/G ratio of 0.88 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were paid a $0.45 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. This trade represents a 23.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the sale, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 115,000 shares of company stock valued at $10,050,000. Corporate insiders own 0.08% of the company’s stock.

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.