Foster & Motley Inc. Takes $289,000 Position in Wells Fargo & Company (NYSE:WFC)

by · The Cerbat Gem

Foster & Motley Inc. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,112 shares of the financial services provider’s stock, valued at approximately $289,000.

Several other large investors also recently modified their holdings of WFC. Canoe Financial LP acquired a new stake in shares of Wells Fargo & Company during the third quarter valued at about $160,529,000. Marshall Wace LLP grew its stake in Wells Fargo & Company by 3,295.6% in 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 in the last quarter. 1832 Asset Management L.P. grew its stake in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares in the last quarter. Rokos Capital Management LLP grew its stake in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after purchasing an additional 1,536,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after purchasing an additional 1,415,647 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE WFC opened at $69.79 on Friday. The stock has a market capitalization of $232.37 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.44 and a beta of 1.14. Wells Fargo & Company has a 1 year low of $40.27 and a 1 year high of $74.27. The business’s fifty day moving average is $59.11 and its two-hundred day moving average is $58.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the company posted $1.39 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.36 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Insiders Place Their Bets

In other Wells Fargo & Company 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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Wells Fargo & Company 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 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The stock was 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 approximately $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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $62.12.

Get Our Latest Stock Report on WFC

Wells Fargo & Company Profile

(Free Report)

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.

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