Lynch & Associates IN Has $464,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Lynch & Associates IN trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,606 shares of the financial services provider’s stock after selling 647 shares during the quarter. Lynch & Associates IN’s holdings in Wells Fargo & Company were worth $464,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WFC. Qsemble Capital Management LP grew its position in shares of Wells Fargo & Company by 55.3% during the 2nd quarter. Qsemble Capital Management LP now owns 83,540 shares of the financial services provider’s stock worth $4,961,000 after buying an additional 29,760 shares during the period. Y.D. More Investments Ltd increased its holdings in shares of Wells Fargo & Company by 565.2% in the second quarter. Y.D. More Investments Ltd now owns 2,255 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 1,916 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Wells Fargo & Company by 1.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 18,896 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 245 shares in the last quarter. BOKF NA grew its position in shares of Wells Fargo & Company by 8.6% in the 2nd quarter. BOKF NA now owns 167,527 shares of the financial services provider’s stock valued at $9,949,000 after purchasing an additional 13,313 shares during the period. Finally, Nelson Capital Management LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $319,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WFC. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Citigroup lifted their target price 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. Royal Bank of Canada reaffirmed 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. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $1.56 on Friday, reaching $70.01. The stock had a trading volume of 14,334,287 shares, compared to its average volume of 12,890,270. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $233.10 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The firm has a fifty day moving average of $72.02 and a two-hundred day moving average of $62.82. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued 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 business 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 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 26.83 % decrease in their position. The sale 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 the company’s stock in a transaction 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 of the company’s stock, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.