Signaturefd LLC Has $2.83 Million Position in Wells Fargo & Company (NYSE:WFC)

Signaturefd LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,032 shares of the financial services provider’s stock after selling 5,134 shares during the quarter. Signaturefd LLC’s holdings in Wells Fargo & Company were worth $2,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Assets Advisory LLC acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $2,638,000. Harbor Investment Advisory LLC lifted its stake in shares of Wells Fargo & Company by 2.7% in the first quarter. Harbor Investment Advisory LLC now owns 9,331 shares of the financial services provider’s stock valued at $541,000 after buying an additional 248 shares in the last quarter. Charles Schwab Trust Co purchased a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $371,000. Annex Advisory Services LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $298,000. Finally, First Financial Corp IN raised its stake in shares of Wells Fargo & Company by 36.8% in the first quarter. First Financial Corp IN now owns 6,286 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 1,691 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.8 %

WFC traded up $1.16 on Tuesday, reaching $65.18. 12,106,645 shares of the company traded hands, compared to its average volume of 18,028,043. Wells Fargo & Company has a one year low of $38.58 and a one year high of $65.21. The firm has a fifty day simple moving average of $56.74 and a two-hundred day simple moving average of $58.05. The company has a market cap of $227.24 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business posted $1.39 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.