Colonial River Investments LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

Colonial River Investments LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,807 shares of the financial services provider’s stock, valued at approximately $780,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mayflower Financial Advisors LLC lifted its holdings in Wells Fargo & Company by 3.6% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 5,316 shares of the financial services provider’s stock worth $300,000 after buying an additional 184 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Wells Fargo & Company by 22.6% during the third quarter. Axxcess Wealth Management LLC now owns 80,033 shares of the financial services provider’s stock worth $4,521,000 after acquiring an additional 14,728 shares during the last quarter. Alan B Lancz & Associates Inc. lifted its stake in shares of Wells Fargo & Company by 26.3% in the third quarter. Alan B Lancz & Associates Inc. now owns 4,800 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 1,000 shares during the period. Covestor Ltd lifted its stake in shares of Wells Fargo & Company by 17.3% in the third quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 196 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in Wells Fargo & Company by 111.1% in the third quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock valued at $1,947,000 after acquiring an additional 18,138 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on WFC. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Compass Point lifted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Thirteen 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.12.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $70.04 on Friday. 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 firm has a 50-day moving average of $59.59 and a 200-day moving average of $58.86. Wells Fargo & Company has a one year low of $40.27 and a one year high of $74.27. The company has a market cap of $233.20 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.63 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.39 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

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.