Insider Selling: Wells Fargo & Company (WFC) Insider Sells 70,000 Shares of Stock

Wells Fargo & Company (NYSE:WFC) insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wells Fargo & Company (NYSE:WFC) traded down $0.21 during trading hours on Friday, reaching $56.47. The company’s stock had a trading volume of 30,980,801 shares, compared to its average volume of 18,126,473. Wells Fargo & Company has a 12-month low of $49.27 and a 12-month high of $59.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91. The firm has a market cap of $273,641.16, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, November 2nd. Wells Fargo & Company’s payout ratio is 40.31%.

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & Company in a report on Wednesday, August 16th. Robert W. Baird reaffirmed a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, September 5th. Vetr upgraded shares of Wells Fargo & Company to a “strong-buy” rating in a research note on Thursday, September 7th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $50.00 target price (down from $52.00) on shares of Wells Fargo & Company in a research note on Wednesday, September 13th. Finally, UBS reissued a “neutral” rating and issued a $56.00 price objective (down from $59.00) on shares of Wells Fargo & Company in a research note on Friday, September 15th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $57.20.

Institutional investors have recently modified their holdings of the business. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $1,095,000. Brick & Kyle Associates increased its holdings in Wells Fargo & Company by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares in the last quarter. Stelac Advisory Services LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth about $104,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Wells Fargo & Company by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 6 shares in the last quarter. Finally, Delphi Private Advisors LLC increased its holdings in Wells Fargo & Company by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,461 shares in the last quarter. Institutional investors own 75.78% of the company’s stock.

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About Wells Fargo & Company

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.

Insider Buying and Selling by Quarter for Wells Fargo & Company (NYSE:WFC)

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