NorthCrest Asset Manangement LLC Buys 3,292 Shares of Wells Fargo & Company (NYSE:WFC)

NorthCrest Asset Manangement LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,475 shares of the financial services provider’s stock after acquiring an additional 3,292 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Wells Fargo & Company were worth $9,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brookstone Capital Management grew its holdings in Wells Fargo & Company by 6.9% during the 1st quarter. Brookstone Capital Management now owns 19,476 shares of the financial services provider’s stock worth $1,129,000 after acquiring an additional 1,263 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Wells Fargo & Company by 3.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 13,414 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 391 shares in the last quarter. Kathmere Capital Management LLC lifted its position in shares of Wells Fargo & Company by 4.3% during the 1st quarter. Kathmere Capital Management LLC now owns 7,916 shares of the financial services provider’s stock valued at $459,000 after acquiring an additional 324 shares during the period. Webster Bank N. A. boosted its stake in Wells Fargo & Company by 2.0% during the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 202 shares in the last quarter. Finally, Trust Co. of Virginia VA acquired a new stake in Wells Fargo & Company in the first quarter worth $201,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were 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 directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $0.90 on Friday, reaching $64.53. The company’s stock had a trading volume of 14,855,494 shares, compared to its average volume of 18,084,012. Wells Fargo & Company has a 12-month low of $38.62 and a 12-month high of $65.95. The stock’s 50 day simple moving average is $57.60 and its 200-day simple moving average is $58.25. 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 capitalization of $219.65 billion, a P/E ratio of 13.41, a PEG ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) 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. The company had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WFC shares. Evercore ISI raised their target price on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Compass Point lifted their price target 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. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.82.

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.