Narus Financial Partners LLC Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Narus Financial Partners LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 33.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,000 shares of the financial services provider’s stock after selling 2,024 shares during the period. Narus Financial Partners LLC’s holdings in Wells Fargo & Company were worth $226,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WFC. Ellenbecker Investment Group grew its position in shares of Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares during the period. John W. Brooker & Co. CPAs grew its position in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after buying an additional 171 shares during the period. McAdam LLC grew its position in shares of Wells Fargo & Company by 3.3% in the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after buying an additional 178 shares during the period. Eclectic Associates Inc. ADV grew its position in shares of Wells Fargo & Company by 1.2% in the 3rd quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock worth $873,000 after buying an additional 178 shares during the period. Finally, Prentice Wealth Management LLC grew its position in shares of Wells Fargo & Company by 2.0% in the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $64.36 on Monday. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $64.78. The firm has a market capitalization of $224.38 billion, a P/E ratio of 13.22, a PEG 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. The company has a 50-day moving average price of $56.50 and a 200-day moving average price of $58.00.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The company had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.49%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were 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 directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Wells Fargo & Company news, 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 transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the 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 directly owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. 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 insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WFC. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Compass Point upped their price target on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $61.82.

About Wells Fargo & Company

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.