First Financial Corp IN Sells 477 Shares of Wells Fargo & Company (NYSE:WFC)

First Financial Corp IN lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,809 shares of the financial services provider’s stock after selling 477 shares during the period. First Financial Corp IN’s holdings in Wells Fargo & Company were worth $408,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Two Sigma Advisers LP boosted its stake in shares of Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $160,529,000. Marshall Wace LLP boosted its position in Wells Fargo & Company by 3,295.6% during the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after purchasing an additional 2,404,898 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the last quarter. Finally, National Pension Service raised its position in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

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 dated Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Wells Fargo & Company Stock Up 0.9 %

Shares of WFC opened at $70.59 on Tuesday. 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 company has a 50-day moving average price of $72.27 and a two-hundred day moving average price of $63.07. The stock has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the company earned $1.39 EPS. Wells Fargo & Company’s revenue was down 2.4% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

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.