Wells Fargo & Company (NYSE:WFC) Shares Acquired by Signet Financial Management LLC

Signet Financial Management LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 0.4% during the 4th quarter, Holdings Channel reports. The fund owned 56,916 shares of the financial services provider’s stock after purchasing an additional 230 shares during the quarter. Signet Financial Management LLC’s holdings in Wells Fargo & Company were worth $3,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the third quarter valued at $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC traded up $0.63 during mid-day trading on Monday, reaching $70.59. 10,437,606 shares of the company’s stock were exchanged, compared to its average volume of 12,538,234. The company has a 50-day simple moving average of $72.13 and a two-hundred day simple moving average of $62.97. The company has a market cap of $235.03 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.47 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted 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 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 last year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side 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 declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date 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 currently 33.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WFC shares. Morgan Stanley decreased their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, September 30th. Truist Financial assumed coverage on Wells Fargo & Company in a research report on Tuesday, January 7th. They set a “buy” rating and a $82.00 price target on the stock. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Twelve investment analysts have rated the stock with a hold rating, ten have issued 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 “Moderate Buy” and an average price target of $69.92.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

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.