Sather Financial Group Inc Sells 5,000 Shares of Wells Fargo & Company (NYSE:WFC)

Sather Financial Group Inc trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 34.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,451 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Sather Financial Group Inc’s holdings in Wells Fargo & Company were worth $534,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management Inc. increased its stake in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after purchasing an additional 11,037 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Argus Investors Counsel Inc. increased its position in Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its stake in Wells Fargo & Company by 111.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock valued at $1,947,000 after buying an additional 18,138 shares during the period. Finally, Assetmark Inc. lifted its position in shares of Wells Fargo & Company by 5.6% in the third quarter. Assetmark Inc. now owns 382,717 shares of the financial services provider’s stock valued at $21,620,000 after buying an additional 20,149 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Activity

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 shares were 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 of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The sale 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 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 completion of the sale, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on WFC shares. Piper Sandler boosted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Morgan Stanley reduced 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 report on Monday, September 30th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Thirteen 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 company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $62.12.

Wells Fargo & Company Trading Up 2.1 %

Shares of Wells Fargo & Company stock opened at $74.34 on Friday. 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 12-month low of $41.99 and a 12-month high of $74.41. The company has a market capitalization of $247.51 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.55 and a beta of 1.14. The firm’s 50-day moving average price is $61.17 and its two-hundred day moving average price 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 for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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 paid a $0.40 dividend. 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 payout ratio is 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.