Wells Fargo & Company (NYSE:WFC) EVP Sells $2,193,000.00 in Stock

Key Points

  • EVP Kleber Santos sold 25,000 WFC shares at an average price of $87.72 for a total of $2,193,000, reducing his stake by about 23.8% to 79,876 shares; the transaction was disclosed on an SEC Form 4.
  • Wells Fargo declared a quarterly dividend of $0.45 per share (annualized $1.80), payable March 1 with a record date of February 6, implying a yield of roughly 2.0%.
  • WFC reported quarterly EPS of $1.76 versus $1.66 expected and revenue up 4.5% year-over-year; the stock carries a consensus rating of "Moderate Buy" with an average price target of $97.03.

Wells Fargo & Company (NYSE:WFC) EVP Kleber Santos sold 25,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. The trade was a 23.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Wells Fargo & Company Stock Up 1.2%

Shares of WFC opened at $88.61 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $91.49 and a 200 day moving average of $86.15. The company has a market cap of $278.17 billion, a PE ratio of 14.13, a P/E/G ratio of 0.95 and a beta of 1.09. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $11.97 billion for the quarter, compared to analysts' expectations of $21.63 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect 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 will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company's dividend payout ratio is presently 28.71%.

Trending Headlines about Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. CICC Research assumed coverage on Wells Fargo & Company in a research note on Wednesday, January 14th. They set a "market perform" rating and a $96.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $99.00 to $99.50 and gave the company a "neutral" rating in a research report on Monday, February 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Barclays lifted their target price on Wells Fargo & Company from $94.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, January 5th. Finally, Evercore cut their price target on shares of Wells Fargo & Company from $110.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.03.

Read Our Latest Report on WFC

Institutional Trading of Wells Fargo & Company

A number of hedge funds have recently added to or reduced their stakes in WFC. Private Wealth Group LLC raised its holdings in shares of Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider's stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. boosted its stake in shares of Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank increased its holdings in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider's stock valued at $593,000 after buying an additional 116 shares during the period. Moss Adams Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider's stock valued at $1,123,000 after buying an additional 117 shares during the period. Finally, Main Street Group LTD raised its stake in Wells Fargo & Company by 36.9% in the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider's stock worth $37,000 after buying an additional 118 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

About Wells Fargo & Company

(Get Free Report)

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.

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