Wells Fargo & Company $WFC Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 338,864 shares of the financial services provider’s stock after selling 6,894 shares during the quarter. Wells Fargo & Company accounts for approximately 0.5% of OLD National Bancorp IN’s holdings, making the stock its 24th largest position. OLD National Bancorp IN’s holdings in Wells Fargo & Company were worth $31,582,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $27,000. Marquette Asset Management LLC increased its stake in shares of Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 274 shares during the period. Grey Fox Wealth Advisors LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $30,000. Imprint Wealth LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $31,000. Finally, Aventus Investment Advisors Inc. acquired a new stake in Wells Fargo & Company in the third quarter worth approximately $37,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wells Fargo & Company

In related news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the transaction, the executive vice president directly owned 169,496 shares in the company, valued at $14,813,950.40. This represents a 26.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,000 shares of company stock worth $10,050,000 in the last quarter. 0.14% of the stock is owned by company insiders.

Wells Fargo & Company Price Performance

NYSE WFC opened at $80.46 on Thursday. The stock has a market capitalization of $248.26 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.96 and a beta of 1.06. Wells Fargo & Company has a 1 year low of $67.50 and a 1 year high of $97.76. The business’s fifty day moving average is $81.60 and its two-hundred day moving average is $86.14. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. The business had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.39 EPS. On average, research analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Wolfe Research restated an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price on the stock in a report on Friday, February 13th. Finally, UBS Group reiterated a “buy” rating and issued a $113.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $97.75.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.