Skandinaviska Enskilda Banken AB publ lowered its stake in Wells Fargo & Company (NYSE:WFC) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 776,632 shares of the financial services provider's stock after selling 27,159 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Wells Fargo & Company were worth $31,733,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Wealth Alliance increased its holdings in shares of Wells Fargo & Company by 6.8% in the third quarter. Wealth Alliance now owns 14,405 shares of the financial services provider's stock valued at $589,000 after purchasing an additional 923 shares during the period. Delta Asset Management LLC TN grew its holdings in Wells Fargo & Company by 0.3% during the third quarter. Delta Asset Management LLC TN now owns 473,932 shares of the financial services provider's stock worth $19,365,000 after acquiring an additional 1,549 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Wells Fargo & Company by 12.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 735,663 shares of the financial services provider's stock worth $30,059,000 after acquiring an additional 81,263 shares during the period. Argent Advisors Inc. grew its holdings in Wells Fargo & Company by 6.8% during the third quarter. Argent Advisors Inc. now owns 26,245 shares of the financial services provider's stock worth $1,072,000 after acquiring an additional 1,664 shares during the period. Finally, Concentric Wealth Management LLC grew its holdings in Wells Fargo & Company by 0.3% during the third quarter. Concentric Wealth Management LLC now owns 90,200 shares of the financial services provider's stock worth $3,686,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.
Wells Fargo & Company Trading Down 0.6 %
NYSE:WFC traded down $0.29 on Friday, hitting $48.06. 16,593,980 shares of the stock were exchanged, compared to its average volume of 18,047,030. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $51.44. The stock has a market cap of $174.54 billion, a PE ratio of 9.97, a PEG ratio of 1.00 and a beta of 1.18. The stock has a fifty day moving average of $48.53 and a 200-day moving average of $44.26.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. During the same quarter last year, the business earned $0.67 EPS. Wells Fargo & Company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.91%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.05%.
Analyst Ratings Changes
A number of analysts have commented on the company. BMO Capital Markets boosted their target price on Wells Fargo & Company from $52.00 to $54.00 and gave the stock a "market perform" rating in a research report on Monday, October 16th. Piper Sandler decreased their target price on Wells Fargo & Company from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 16th. Odeon Capital Group downgraded Wells Fargo & Company from a "buy" rating to a "hold" rating and set a $48.80 target price on the stock. in a research report on Thursday, January 18th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, December 1st. Finally, Barclays upped their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Ten research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $51.43.
View Our Latest Report on Wells Fargo & Company
About Wells Fargo & Company
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Further Reading
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