Handelsbanken Fonder AB increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,263,099 shares of the financial services provider's stock after buying an additional 31,935 shares during the period. Handelsbanken Fonder AB's holdings in Wells Fargo & Company were worth $51,610,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the 1st quarter valued at approximately $28,000. Financial Connections Group Inc. increased its position in shares of Wells Fargo & Company by 288.0% in the 2nd quarter. Financial Connections Group Inc. now owns 741 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $34,000. Finally, Central Bank & Trust Co. increased its position in shares of Wells Fargo & Company by 444.8% in the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 734 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company Stock Performance
Shares of WFC stock traded up $0.19 during mid-day trading on Thursday, hitting $49.52. The stock had a trading volume of 3,668,926 shares, compared to its average volume of 19,233,492. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $50.77. The firm has a market cap of $179.84 billion, a PE ratio of 10.66, a PEG ratio of 0.96 and a beta of 1.18. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.87 and a quick ratio of 0.87. The company's 50-day simple moving average is $43.81 and its 200-day simple moving average is $42.96.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.24 by $0.15. Wells Fargo & Company had a net margin of 17.06% and a return on equity of 11.18%. The company had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.09 billion. During the same quarter last year, the business earned $1.30 EPS. The business's revenue was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.04 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.24%.
Analyst Ratings Changes
WFC has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, December 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $44.00 price objective on shares of Wells Fargo & Company in a research report on Friday, September 22nd. Piper Sandler upped their target price on shares of Wells Fargo & Company from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, December 8th. Odeon Capital Group upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $56.08 target price for the company in a report on Thursday, December 14th. Finally, HSBC started coverage on shares of Wells Fargo & Company in a report on Thursday, September 7th. They issued a "hold" rating and a $45.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.56.
Read Our Latest Stock Analysis on WFC
Insider Activity
In related news, Director Richard K. Davis purchased 3,500 shares of the business's stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $41.22 per share, for a total transaction of $144,270.00. Following the acquisition, the director now directly owns 4,244 shares of the company's stock, valued at approximately $174,937.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.07% of the company's stock.
Wells Fargo & Company Company Profile
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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.
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