Concentric Wealth Management LLC Raises Position in Wells Fargo & Company (NYSE:WFC)

Concentric Wealth Management LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,045 shares of the financial services provider’s stock after purchasing an additional 292 shares during the period. Concentric Wealth Management LLC’s holdings in Wells Fargo & Company were worth $5,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of WFC. Waverly Advisors LLC lifted its holdings in Wells Fargo & Company by 34.2% during the first quarter. Waverly Advisors LLC now owns 49,364 shares of the financial services provider’s stock valued at $2,861,000 after purchasing an additional 12,588 shares during the last quarter. Interval Partners LP lifted its holdings in shares of Wells Fargo & Company by 32,255.8% in the first quarter. Interval Partners LP now owns 160,779 shares of the financial services provider’s stock worth $9,319,000 after buying an additional 161,279 shares in the last quarter. Sweeney & Michel LLC purchased a new position in Wells Fargo & Company during the first quarter valued at approximately $1,372,000. Dynasty Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $1,699,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in Wells Fargo & Company by 22.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 67,346 shares of the financial services provider’s stock valued at $3,903,000 after acquiring an additional 12,473 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on WFC. Piper Sandler increased their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research 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 objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Compass Point lifted 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 analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $63.07.

Wells Fargo & Company Trading Up 1.5 %

NYSE WFC opened at $75.96 on Monday. The stock’s fifty day moving average price is $63.28 and its 200-day moving average price is $59.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $252.91 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.58 and a beta of 1.14. Wells Fargo & Company has a 12 month low of $42.52 and a 12 month high of $76.08.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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 issued a $0.40 dividend. 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 2.11%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Buying and Selling 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 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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company 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.