Asset Management One Co. Ltd. Sells 29,561 Shares of Wells Fargo & Company $WFC

Asset Management One Co. Ltd. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the second quarter, HoldingsChannel reports. The fund owned 1,368,030 shares of the financial services provider’s stock after selling 29,561 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Wells Fargo & Company were worth $109,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WFC. Brighton Jones LLC boosted its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. GAMMA Investing LLC boosted its holdings in Wells Fargo & Company by 11.3% in the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock worth $3,393,000 after buying an additional 4,786 shares during the period. HBK Sorce Advisory LLC boosted its holdings in Wells Fargo & Company by 7.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 24,543 shares of the financial services provider’s stock worth $1,762,000 after buying an additional 1,617 shares during the period. Alpine Bank Wealth Management bought a new position in Wells Fargo & Company in the 1st quarter worth $60,000. Finally, Omnia Family Wealth LLC bought a new position in Wells Fargo & Company in the 1st quarter worth $286,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE WFC opened at $84.35 on Friday. The firm’s 50-day moving average price is $81.71 and its 200-day moving average price is $77.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $270.22 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.15 and a beta of 1.25. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. TD Cowen upped their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Truist Financial upped their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.57.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.