Baxter Bros Inc. Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Baxter Bros Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 113,266 shares of the financial services provider’s stock after selling 4,970 shares during the period. Baxter Bros Inc.’s holdings in Wells Fargo & Company were worth $6,398,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WFC. Pure Financial Advisors LLC grew its holdings in shares of Wells Fargo & Company by 4.8% in the third quarter. Pure Financial Advisors LLC now owns 17,635 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 815 shares in the last quarter. First Interstate Bank purchased a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $242,000. Creative Capital Management Investments LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth $113,000. Lowe Brockenbrough & Co. Inc. increased its position in shares of Wells Fargo & Company by 0.7% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 57,035 shares of the financial services provider’s stock worth $3,222,000 after acquiring an additional 402 shares during the period. Finally, Americana Partners LLC raised its stake in shares of Wells Fargo & Company by 6.1% in the third quarter. Americana Partners LLC now owns 8,790 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 503 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the firm’s 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 completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. 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 available at this link. In other 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 transaction of $2,169,650.00. Following the transaction, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s 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 completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wells Fargo & Company Trading Down 0.4 %

NYSE WFC opened at $64.68 on Friday. Wells Fargo & Company has a one year low of $39.39 and a one year high of $66.39. The firm has a market cap of $220.16 billion, a PE ratio of 13.45, a P/E/G ratio of 1.46 and a beta of 1.14. The firm’s fifty day moving average is $58.50 and its two-hundred day moving average is $58.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 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 firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the business earned $1.39 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. The Goldman Sachs Group reduced their target price 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. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Keefe, Bruyette & Woods reduced 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 report on Monday, July 15th. Finally, Compass Point boosted their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.12.

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.