Candriam S.C.A. Has $251,000 Stock Holdings in Wells Fargo & Company $WFC

Candriam S.C.A. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 37.8% during the 2nd quarter, Holdings Channel reports. The firm owned 3,135 shares of the financial services provider’s stock after selling 1,905 shares during the period. Candriam S.C.A.’s holdings in Wells Fargo & Company were worth $251,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC raised its position in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at $27,000. Motco grew its position in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the period. Finally, Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WFC shares. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Morgan Stanley raised their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Truist Financial lifted their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, TD Cowen increased their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $83.49 on Tuesday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. The stock’s 50 day moving average is $83.80 and its 200-day moving average is $80.06. 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 company has a market capitalization of $262.07 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period last year, the firm posted $1.42 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wells Fargo & Company Company Profile

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.