Kleber Santos Sells 22,700 Shares of Wells Fargo & Company (NYSE:WFC) Stock

Wells Fargo & Company (NYSE:WFC) EVP Kleber Santos sold 22,700 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the transaction, the executive vice president now owns 21,478 shares in the company, valued at $954,482.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NYSE WFC opened at $44.76 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.95. The company has a market cap of $170.16 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.04 and a beta of 1.14. Wells Fargo & Company has a 12 month low of $41.47 and a 12 month high of $60.30. The stock has a 50-day moving average price of $48.62 and a two-hundred day moving average price of $50.93.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its earnings results on Thursday, April 14th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. The firm had revenue of $17.59 billion during the quarter, compared to the consensus estimate of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 4.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, May 5th. Wells Fargo & Company’s payout ratio is 20.79%.

A number of brokerages have recently issued reports on WFC. Argus boosted their target price on shares of Wells Fargo & Company from $55.00 to $65.00 in a research report on Tuesday, January 18th. StockNews.com began coverage on shares of Wells Fargo & Company in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. Barclays boosted their target price on shares of Wells Fargo & Company from $62.00 to $64.00 in a research report on Monday, April 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $57.00 to $58.50 in a research report on Thursday, February 3rd. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $58.78.

Several institutional investors have recently added to or reduced their stakes in WFC. Sandy Spring Bank increased its stake in shares of Wells Fargo & Company by 10.9% in the third quarter. Sandy Spring Bank now owns 6,944 shares of the financial services provider’s stock valued at $323,000 after buying an additional 685 shares during the period. Duality Advisers LP acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $1,402,000. Americana Partners LLC increased its stake in shares of Wells Fargo & Company by 56.1% in the third quarter. Americana Partners LLC now owns 12,377 shares of the financial services provider’s stock valued at $574,000 after buying an additional 4,450 shares during the period. Synovus Financial Corp increased its stake in shares of Wells Fargo & Company by 21.2% in the third quarter. Synovus Financial Corp now owns 71,150 shares of the financial services provider’s stock valued at $3,301,000 after buying an additional 12,455 shares during the period. Finally, Sprucegrove Investment Management Ltd. increased its position in Wells Fargo & Company by 6.2% during the 3rd quarter. Sprucegrove Investment Management Ltd. now owns 2,546,060 shares of the financial services provider’s stock valued at $118,163,000 after purchasing an additional 149,100 shares during the period. 74.01% of the stock is owned by institutional investors.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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