John R. Shrewsberry Sells 70,000 Shares of Wells Fargo & Company (WFC) Stock

Wells Fargo & Company (NYSE:WFC) insider John R. Shrewsberry sold 70,000 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wells Fargo & Company (NYSE:WFC) opened at $56.20 on Friday. The stock has a market capitalization of $278,073.00, a PE ratio of 13.64, a PEG ratio of 1.36 and a beta of 0.96. Wells Fargo & Company has a 1 year low of $49.27 and a 1 year high of $59.99. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. equities research analysts predict that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company’s payout ratio is currently 40.31%.

Several institutional investors have recently bought and sold shares of WFC. C WorldWide Group Holding A S lifted its holdings in shares of Wells Fargo & Company by 11.8% in the 1st quarter. C WorldWide Group Holding A S now owns 5,314,670 shares of the financial services provider’s stock valued at $295,814,000 after purchasing an additional 559,931 shares during the last quarter. Webster Bank N. A. lifted its holdings in shares of Wells Fargo & Company by 2.5% in the 1st quarter. Webster Bank N. A. now owns 49,707 shares of the financial services provider’s stock valued at $2,766,000 after purchasing an additional 1,190 shares during the last quarter. Eads & Heald Investment Counsel lifted its holdings in shares of Wells Fargo & Company by 7.3% in the 1st quarter. Eads & Heald Investment Counsel now owns 27,578 shares of the financial services provider’s stock valued at $1,535,000 after purchasing an additional 1,870 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Wells Fargo & Company by 10.1% in the 1st quarter. APG Asset Management N.V. now owns 6,905,782 shares of the financial services provider’s stock valued at $384,376,000 after purchasing an additional 635,436 shares during the last quarter. Finally, Grimes & Company Inc. lifted its holdings in shares of Wells Fargo & Company by 15.8% in the 1st quarter. Grimes & Company Inc. now owns 7,428 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 1,012 shares during the last quarter. 75.78% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on WFC. Vetr cut Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $53.07 target price for the company. in a research note on Monday, October 2nd. Instinet reissued a “buy” rating and set a $65.00 target price (up from $64.00) on shares of Wells Fargo & Company in a research note on Saturday, September 30th. Nomura boosted their target price on Wells Fargo & Company from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, September 28th. Vertical Group began coverage on Wells Fargo & Company in a research note on Friday, October 6th. They set a “sell” rating for the company. Finally, UBS set a $57.00 target price on Wells Fargo & Company and gave the stock a “neutral” rating in a research note on Friday, October 6th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $57.25.

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Wells Fargo & Company Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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