Lowe Brockenbrough & Co. Inc. Acquires 402 Shares of Wells Fargo & Company (NYSE:WFC)

Lowe Brockenbrough & Co. Inc. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,035 shares of the financial services provider’s stock after acquiring an additional 402 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Wells Fargo & Company were worth $3,222,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WFC. Income Research & Management purchased a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $211,000. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $26,000. Valued Wealth Advisors LLC raised 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 valued at $37,000 after purchasing an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its position in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WFC shares. Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Compass Point increased their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets raised their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Thirteen 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company Trading Down 0.4 %

Shares of WFC opened at $64.68 on Friday. The business’s 50-day moving average price is $58.50 and its 200-day moving average price is $58.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $39.39 and a twelve month high of $66.39. The stock has a market cap of $220.16 billion, a PE ratio of 13.45, a P/E/G ratio of 1.48 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Buying and Selling

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

About Wells Fargo & Company

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.