Swedbank AB Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Swedbank AB decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 754,532 shares of the financial services provider’s stock after selling 1,570 shares during the period. Swedbank AB’s holdings in Wells Fargo & Company were worth $52,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Income Research & Management purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at $211,000. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at $25,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at $26,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WFC. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Up 0.7 %

NYSE:WFC opened at $78.41 on Thursday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.98. The stock has a market capitalization of $261.07 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company’s 50-day simple moving average is $73.35 and its 200-day simple moving average is $64.38.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.