Vontobel Holding Ltd. Has $3.24 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Vontobel Holding Ltd. lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,051 shares of the financial services provider’s stock after selling 2,182 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wells Fargo & Company were worth $3,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Income Research & Management bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $35,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.1 %

Shares of Wells Fargo & Company stock opened at $79.68 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $48.62 and a 12 month high of $81.50. The business has a fifty day simple moving average of $74.41 and a 200 day simple moving average of $66.15. The stock has a market cap of $265.29 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts predict 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 Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

Several equities analysts recently commented on WFC shares. Morgan Stanley raised their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

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.