FSA Wealth Management LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 598 shares of the financial services provider’s stock, valued at approximately $34,000.

Several other hedge funds also recently modified their holdings of the company. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth $211,000. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 1.3 %

Shares of NYSE WFC opened at $76.17 on Monday. 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 market cap of $253.61 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.59 and a beta of 1.14. Wells Fargo & Company has a 52 week low of $43.48 and a 52 week high of $78.13. The business has a 50-day simple moving average of $65.48 and a two-hundred day simple moving average of $60.33.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating 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 company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Insider Buying and Selling

In other news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WFC shares. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Finally, Compass Point upped their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.07.

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.