Peterson Financial Group Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

Peterson Financial Group Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,097 shares of the financial services provider’s stock, valued at approximately $62,000.

A number of other institutional investors have also modified their holdings of WFC. Ellenbecker Investment Group raised its position in Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares during the last quarter. Income Research & Management purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Modera Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 0.9% during the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares in the last quarter. Catalina Capital Group LLC lifted its stake in shares of Wells Fargo & Company by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 9,886 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 168 shares during the period. Finally, John W. Brooker & Co. CPAs lifted its stake in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 171 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 2.1 %

Shares of WFC opened at $74.34 on Friday. The stock has a market capitalization of $247.51 billion, a PE ratio of 15.46, a P/E/G ratio of 1.55 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $41.99 and a 1 year high of $74.41. 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’s 50-day simple moving average is $61.17 and its 200-day simple moving average is $59.30.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 26.83 % 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 Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WFC shares. Compass Point boosted their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. 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 note on Monday, October 14th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Finally, Piper Sandler upped their price objective on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $62.12.

Wells Fargo & Company 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.