Vontobel Holding Ltd. Increases Position in Wells Fargo & Company $WFC

Vontobel Holding Ltd. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 118.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 115,515 shares of the financial services provider’s stock after buying an additional 62,642 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wells Fargo & Company were worth $9,682,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WFC. Cypress Wealth Services LLC lifted its position in shares of Wells Fargo & Company by 5.2% in the third quarter. Cypress Wealth Services LLC now owns 17,183 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 848 shares in the last quarter. Revisor Wealth Management LLC raised its stake in Wells Fargo & Company by 2.3% during the 3rd quarter. Revisor Wealth Management LLC now owns 16,853 shares of the financial services provider’s stock valued at $1,346,000 after purchasing an additional 380 shares during the period. Welch Group LLC raised its stake in Wells Fargo & Company by 4.2% during the 3rd quarter. Welch Group LLC now owns 23,405 shares of the financial services provider’s stock valued at $1,962,000 after purchasing an additional 938 shares during the period. Trust Co. of Vermont lifted its holdings in Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 126 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. boosted its stake in Wells Fargo & Company by 5.6% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 7,136 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Truist Financial raised their target price on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $95.28 on Thursday. The firm has a fifty day simple moving average of $87.46 and a two-hundred day simple moving average of $82.77. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $95.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $299.09 billion, a P/E ratio of 15.67, a PEG ratio of 0.98 and a beta of 1.11.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.