Raymond James Trust N.A. Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Raymond James Trust N.A. raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 142,321 shares of the financial services provider’s stock after buying an additional 3,481 shares during the period. Raymond James Trust N.A.’s holdings in Wells Fargo & Company were worth $8,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $34,000. Valued Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Finally, Fairscale Capital LLC purchased a new position in shares of Wells Fargo & Company in the second quarter worth approximately $47,000. 75.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the 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 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 sale was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 1.7 %

NYSE WFC opened at $74.83 on Friday. The stock has a 50 day moving average price of $62.81 and a 200-day moving average price of $59.70. Wells Fargo & Company has a one year low of $42.40 and a one year high of $76.04. 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 $249.15 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.53 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last released 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 net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business earned $1.39 earnings per share. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.14%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Piper Sandler upped their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Compass Point lifted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.07.

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.