Turtle Creek Wealth Advisors LLC Purchases 935 Shares of Wells Fargo & Company (NYSE:WFC)

Turtle Creek Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 18.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,123 shares of the financial services provider’s stock after buying an additional 935 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tocqueville Asset Management L.P. grew its stake in shares of Wells Fargo & Company by 13.3% in the first quarter. Tocqueville Asset Management L.P. now owns 11,061 shares of the financial services provider’s stock worth $641,000 after acquiring an additional 1,295 shares during the period. TIAA Trust National Association increased its stake in Wells Fargo & Company by 2.1% in the 1st quarter. TIAA Trust National Association now owns 90,515 shares of the financial services provider’s stock worth $5,246,000 after buying an additional 1,846 shares in the last quarter. Patten & Patten Inc. TN raised its holdings in Wells Fargo & Company by 8.8% during the first quarter. Patten & Patten Inc. TN now owns 6,189 shares of the financial services provider’s stock valued at $359,000 after acquiring an additional 500 shares during the period. Jacobi Capital Management LLC lifted its position in shares of Wells Fargo & Company by 33.6% in the first quarter. Jacobi Capital Management LLC now owns 17,954 shares of the financial services provider’s stock valued at $1,041,000 after acquiring an additional 4,517 shares in the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Wells Fargo & Company in the first quarter valued at about $267,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.12.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’s 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 directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 26.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 2.1 %

NYSE:WFC traded up $1.54 during trading hours on Friday, reaching $74.34. The company’s stock had a trading volume of 18,836,977 shares, compared to its average volume of 18,126,145. The stock has a 50 day moving average price of $61.17 and a two-hundred day moving average price of $59.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $247.51 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.52 and a beta of 1.14. Wells Fargo & Company has a 12 month low of $41.99 and a 12 month high of $74.41.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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 return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts predict that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.