Wells Fargo & Co (WFC) Insider Petros G. Pelos Sells 28,304 Shares

Wells Fargo & Co (NYSE:WFC) insider Petros G. Pelos sold 28,304 shares of Wells Fargo & Co stock in a transaction on Monday, May 13th. The shares were sold at an average price of $46.51, for a total value of $1,316,419.04. Following the sale, the insider now directly owns 3,066 shares of the company’s stock, valued at $142,599.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NYSE:WFC opened at $45.90 on Friday. Wells Fargo & Co has a 12-month low of $43.02 and a 12-month high of $59.53. The firm has a market capitalization of $225.99 billion, a PE ratio of 10.48, a P/E/G ratio of 0.88 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The business had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. During the same period last year, the business posted $0.96 EPS. On average, equities research analysts forecast that Wells Fargo & Co will post 4.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.92%. Wells Fargo & Co’s dividend payout ratio is presently 41.10%.

Large investors have recently made changes to their positions in the company. Brand Asset Management Group Inc. grew its stake in Wells Fargo & Co by 96.8% during the 1st quarter. Brand Asset Management Group Inc. now owns 492 shares of the financial services provider’s stock worth $31,000 after buying an additional 242 shares during the last quarter. Orrstown Financial Services Inc. grew its stake in Wells Fargo & Co by 125.9% during the 1st quarter. Orrstown Financial Services Inc. now owns 515 shares of the financial services provider’s stock worth $25,000 after buying an additional 287 shares during the last quarter. Horan Capital Advisors LLC. purchased a new position in Wells Fargo & Co during the 1st quarter worth $27,000. Roble Belko & Company Inc grew its stake in Wells Fargo & Co by 46.1% during the 1st quarter. Roble Belko & Company Inc now owns 691 shares of the financial services provider’s stock worth $33,000 after buying an additional 218 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC purchased a new position in Wells Fargo & Co during the 4th quarter worth $32,000. Institutional investors and hedge funds own 72.01% of the company’s stock.

A number of equities research analysts have weighed in on the company. Morgan Stanley decreased their target price on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Barclays decreased their target price on Wells Fargo & Co from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Deutsche Bank decreased their target price on Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, April 15th. BMO Capital Markets decreased their target price on Wells Fargo & Co from $65.00 to $63.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. Finally, Bank of America lowered Wells Fargo & Co from a “buy” rating to a “neutral” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.35.

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Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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