Wells Fargo & Company (NYSE:WFC) Shares Sold by Lynch & Associates IN

Lynch & Associates IN reduced its stake in Wells Fargo & Company (NYSE:WFC) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,606 shares of the financial services provider’s stock after selling 647 shares during the period. Lynch & Associates IN’s holdings in Wells Fargo & Company were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Highline Wealth Partners LLC boosted its stake in Wells Fargo & Company by 1.3% during the 4th quarter. Highline Wealth Partners LLC now owns 13,659 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 178 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $205,000. Legacy Private Trust Co. boosted its stake in Wells Fargo & Company by 1,901.3% during the fourth quarter. Legacy Private Trust Co. now owns 113,975 shares of the financial services provider’s stock valued at $8,006,000 after buying an additional 108,280 shares in the last quarter. InvesTrust acquired a new position in Wells Fargo & Company during the fourth quarter worth about $8,210,000. Finally, Worth Asset Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth about $2,327,000. 75.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded down $1.56 during midday trading on Friday, hitting $70.01. The company had a trading volume of 14,334,287 shares, compared to its average volume of 12,890,270. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The business’s 50 day simple moving average is $72.02 and its two-hundred day simple moving average is $62.82. The stock has a market cap of $233.10 billion, a PE ratio of 14.56, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business earned $1.39 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial started coverage on shares of Wells Fargo & Company in a report on Tuesday. They issued a “buy” rating and a $82.00 target price on the stock. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley reduced their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Finally, Barclays boosted their price objective on Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday. Twelve investment 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 currently has an average rating of “Moderate Buy” and a consensus price target 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.