Skandinaviska Enskilda Banken AB publ Sells 360,562 Shares of Wells Fargo & Company $WFC

Skandinaviska Enskilda Banken AB publ cut its holdings in Wells Fargo & Company (NYSE:WFC) by 32.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 753,148 shares of the financial services provider’s stock after selling 360,562 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Wells Fargo & Company were worth $60,331,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Norges Bank bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth approximately $3,990,551,000. Massachusetts Financial Services Co. MA boosted its position in shares of Wells Fargo & Company by 54.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 8,010.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after buying an additional 1,949,395 shares during the last quarter. Finally, Strs Ohio bought a new position in Wells Fargo & Company during the 1st quarter valued at approximately $109,643,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Evercore ISI increased their price objective 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 raised their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Finally, Citigroup increased their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Trading Up 0.6%

Shares of WFC stock opened at $85.61 on Friday. 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. The stock has a market capitalization of $268.75 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.18 and a beta of 1.22. The firm’s 50 day moving average is $84.24 and its 200 day moving average is $80.58.

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

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

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.