Handelsbanken Fonder AB Sells 1,148 Shares of Wells Fargo & Company $WFC

Handelsbanken Fonder AB cut its stake in Wells Fargo & Company (NYSE:WFC) by 0.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,185,278 shares of the financial services provider’s stock after selling 1,148 shares during the period. Handelsbanken Fonder AB’s holdings in Wells Fargo & Company were worth $94,964,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealth Management Partners LLC boosted its holdings in shares of Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 128 shares in the last quarter. Verum Partners LLC lifted its position in Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its position in Wells Fargo & Company by 3.7% in the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after buying an additional 129 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 0.7% in the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after buying an additional 131 shares in the last quarter. Finally, Yukon Wealth Management Inc. grew its position in Wells Fargo & Company by 4.3% during the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $82.47 on Friday. The stock has a market capitalization of $258.88 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.18 and a beta of 1.22. The firm’s 50-day moving average price is $83.96 and its two-hundred day moving average price is $80.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same period in the prior year, the business posted $1.42 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. TD Cowen boosted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Finally, Bank of America boosted their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Company Profile

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.