Atlantic Union Bankshares Corp Purchases 26,320 Shares of Wells Fargo & Company (NYSE:WFC)

Atlantic Union Bankshares Corp increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 17.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,570 shares of the financial services provider's stock after purchasing an additional 26,320 shares during the period. Atlantic Union Bankshares Corp's holdings in Wells Fargo & Company were worth $10,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the 2nd quarter worth $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth $29,000. MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company in the third quarter worth $34,000. Finally, Valued Wealth Advisors LLC boosted its position in Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after buying an additional 220 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WFC. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Compass Point boosted their price objective on Wells Fargo & Company from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, October 15th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a "hold" rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Piper Sandler increased their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Thirteen equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.07.

Wells Fargo & Company Stock Down 1.3 %

NYSE:WFC traded down $1.04 during mid-day trading on Friday, hitting $76.17. 9,783,959 shares of the company's stock were exchanged, compared to its average volume of 18,115,736. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $65.08 and a 200 day moving average price of $60.25. Wells Fargo & Company has a one year low of $43.48 and a one year high of $78.13. The company has a market cap of $253.61 billion, a PE ratio of 16.01, a P/E/G ratio of 1.61 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company's revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $1.39 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.42 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. Wells Fargo & Company's dividend payout ratio is presently 33.26%.

Insider Activity

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company's stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

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.