WoodTrust Financial Corp Grows Stock Position in Wells Fargo & Company (NYSE:WFC)

WoodTrust Financial Corp increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,996 shares of the financial services provider’s stock after purchasing an additional 1,049 shares during the quarter. WoodTrust Financial Corp’s holdings in Wells Fargo & Company were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. M&G PLC grew its position in shares of Wells Fargo & Company by 31.8% during the third quarter. M&G PLC now owns 755,930 shares of the financial services provider’s stock worth $42,332,000 after buying an additional 182,274 shares in the last quarter. Trademark Financial Management LLC acquired a new position in Wells Fargo & Company during the 3rd quarter worth approximately $215,000. Consilium Wealth Advisory LLC grew its holdings in Wells Fargo & Company by 0.4% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 156,278 shares of the financial services provider’s stock worth $8,828,000 after acquiring an additional 646 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,403 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 643 shares in the last quarter. Finally, Centennial Wealth Advisory LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $207,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Evercore ISI increased their price target on shares of 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, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.12.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $72.54 on Thursday. The stock’s 50-day moving average price is $59.11 and its 200 day moving average price is $58.72. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $241.52 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Wells Fargo & Company has a 52-week low of $40.27 and a 52-week high of $74.27.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.21%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’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 transaction of $3,822,000.00. Following the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value 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 $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the 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 0.00 % 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 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.