Capital Investment Counsel Inc Sells 2,101 Shares of Wells Fargo & Company (NYSE:WFC)

Capital Investment Counsel Inc lowered its position in Wells Fargo & Company (NYSE:WFC) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,161 shares of the financial services provider’s stock after selling 2,101 shares during the quarter. Capital Investment Counsel Inc’s holdings in Wells Fargo & Company were worth $2,721,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Global Assets Advisory LLC bought a new stake in Wells Fargo & Company during the 1st quarter valued at about $2,638,000. Brookstone Capital Management raised its stake in shares of Wells Fargo & Company by 6.9% during the first quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock valued at $1,129,000 after acquiring an additional 1,263 shares in the last quarter. Sovereign Financial Group Inc. purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $218,000. Key Client Fiduciary Advisors LLC increased its holdings in Wells Fargo & Company by 25.0% during the 1st quarter. Key Client Fiduciary Advisors LLC now owns 6,390 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 1,278 shares during the period. Finally, Revolve Wealth Partners LLC bought a new stake in Wells Fargo & Company during the 1st quarter valued at $229,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WFC. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research report 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 target price on the stock in a report on Tuesday, September 3rd. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Finally, Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.82.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 completion of the transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wells Fargo & Company Trading Down 0.4 %

NYSE WFC opened at $64.56 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $57.20 and a two-hundred day simple moving average of $58.15. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $65.21. The stock has a market cap of $225.08 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is presently 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.