Lindbrook Capital LLC Buys 345 Shares of Wells Fargo & Company (NYSE:WFC)

Lindbrook Capital LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,019 shares of the financial services provider’s stock after acquiring an additional 345 shares during the period. Lindbrook Capital LLC’s holdings in Wells Fargo & Company were worth $1,187,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WFC. Oppenheimer & Co. Inc. increased its stake in Wells Fargo & Company by 30.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 52,634 shares of the financial services provider’s stock valued at $3,051,000 after buying an additional 12,268 shares during the last quarter. Atomi Financial Group Inc. increased its position in shares of Wells Fargo & Company by 32.6% during the first quarter. Atomi Financial Group Inc. now owns 18,376 shares of the financial services provider’s stock valued at $1,065,000 after acquiring an additional 4,518 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Wells Fargo & Company by 4.5% during the first quarter. Concurrent Investment Advisors LLC now owns 33,525 shares of the financial services provider’s stock worth $1,943,000 after acquiring an additional 1,435 shares during the period. Meeder Asset Management Inc. boosted its position in Wells Fargo & Company by 15.4% in the first quarter. Meeder Asset Management Inc. now owns 8,426 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in Wells Fargo & Company by 5.6% in the 1st quarter. Meeder Advisory Services Inc. now owns 45,925 shares of the financial services provider’s stock valued at $2,662,000 after purchasing an additional 2,434 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $70.04 on Friday. The stock has a market cap of $233.20 billion, a P/E ratio of 14.56, a PEG ratio of 1.63 and a beta of 1.14. 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 business’s 50-day moving average price is $59.59 and its two-hundred day moving average price is $58.86. Wells Fargo & Company has a twelve month low of $40.27 and a twelve month high of $74.27.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.39 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared 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 2.28%. Wells Fargo & Company’s payout ratio is 33.26%.

Insiders Place Their Bets

In other news, EVP Ather Williams III sold 60,000 shares of the 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 in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Wells Fargo & Company news, 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 of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WFC shares. Morgan Stanley decreased their price objective 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. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.