First United Bank & Trust Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)

First United Bank & Trust trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the financial services provider’s stock after selling 264 shares during the period. First United Bank & Trust’s holdings in Wells Fargo & Company were worth $125,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after acquiring an additional 831,975 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Wells Fargo & Company by 67.1% during the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. First Pacific Advisors LP lifted its position in shares of Wells Fargo & Company by 2.1% during the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after purchasing an additional 108,480 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after buying an additional 1,415,647 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Wells Fargo & Company by 1.0% during the first quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock valued at $270,035,000 after buying an additional 48,419 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on WFC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday. Compass Point increased their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a report on Tuesday. Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday. Thirteen investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $61.82.

Insider Buying and Selling

In other Wells Fargo & Company 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 completion of the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Trading Up 1.3 %

NYSE:WFC opened at $63.86 on Thursday. The stock has a market cap of $222.64 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $64.08. The business has a fifty day moving average of $56.04 and a 200-day moving average of $57.90.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. Wells Fargo & Company’s revenue was down 2.4% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

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.