Fieldview Capital Management LLC Acquires 14,924 Shares of Wells Fargo & Company $WFC

Fieldview Capital Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 147.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,073 shares of the financial services provider’s stock after buying an additional 14,924 shares during the period. Fieldview Capital Management LLC’s holdings in Wells Fargo & Company were worth $2,102,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WFC. Vanguard Group Inc. boosted its holdings in shares of Wells Fargo & Company by 0.4% in the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after buying an additional 1,341,222 shares during the period. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the second quarter worth $3,990,551,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Wells Fargo & Company by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock worth $1,496,998,000 after acquiring an additional 1,223,999 shares during the period. Amundi lifted its position in Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in Wells Fargo & Company by 1.1% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,469,766 shares of the financial services provider’s stock valued at $678,598,000 after acquiring an additional 88,358 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WFC shares. Argus upped their target price on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. lifted their price target on Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Truist Financial reduced their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Finally, Wolfe Research reiterated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.03.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $78.76 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average price is $89.15 and its two-hundred day moving average price is $86.66. The firm has a market capitalization of $243.03 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 0.88 and a beta of 1.08. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same period last year, the firm posted $1.43 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 115,000 shares of company stock valued at $10,050,000 in the last quarter. 0.08% of the stock is currently owned by insiders.

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.