Wells Fargo & Company $WFC Shares Acquired by Swedbank AB

Swedbank AB boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 16.7% during the 3rd quarter, Holdings Channel reports. The fund owned 941,892 shares of the financial services provider’s stock after acquiring an additional 134,517 shares during the quarter. Swedbank AB’s holdings in Wells Fargo & Company were worth $78,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in WFC. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company during the second quarter valued at about $27,000. 1248 Management LLC acquired a new position in Wells Fargo & Company during the first quarter worth about $31,000. Finally, Kilter Group LLC acquired a new position in Wells Fargo & Company during the second quarter worth about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Morgan Stanley upped their price target on shares of 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. Citigroup raised their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Truist Financial lifted their price objective on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Trading Up 0.9%

NYSE WFC opened at $95.28 on Thursday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $95.85. 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 $299.09 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The firm’s fifty day simple moving average is $87.46 and its 200-day simple moving average is $82.77.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were given a dividend of $0.45 per share. 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 payout ratio is currently 29.61%.

About Wells Fargo & Company

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.