Quantbot Technologies LP Cuts Holdings in Wells Fargo & Company $WFC

Quantbot Technologies LP lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 90.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,668 shares of the financial services provider’s stock after selling 42,072 shares during the quarter. Quantbot Technologies LP’s holdings in Wells Fargo & Company were worth $391,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at about $27,000. Marquette Asset Management LLC boosted its holdings in shares of Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $30,000. Kilter Group LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $31,000. Finally, Aventus Investment Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $37,000. 75.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the transaction, the executive vice president owned 79,876 shares in the company, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 115,000 shares of company stock worth $10,050,000. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Price Performance

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

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm had revenue of $21.29 billion for the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter last year, the business earned $1.43 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wolfe Research restated an “outperform” rating and issued a $109.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. HSBC restated a “hold” rating and issued a $74.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Finally, Truist Financial cut their price objective on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.03.

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.