2,952,772 Shares in Wells Fargo & Company $WFC Bought by Nykredit A S

Nykredit A S bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, Holdings Channel.com reports. The firm bought 2,952,772 shares of the financial services provider’s stock, valued at approximately $244,017,000. Wells Fargo & Company makes up 0.8% of Nykredit A S’s holdings, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth about $3,707,000. Emergent Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 4.7% in the second quarter. Emergent Wealth Advisors LLC now owns 3,732 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 168 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in Wells Fargo & Company by 67.4% in the second quarter. Pacifica Partners Inc. now owns 49,086 shares of the financial services provider’s stock valued at $4,197,000 after acquiring an additional 19,760 shares during the last quarter. Natural Investments LLC increased its position in Wells Fargo & Company by 62.1% during the 2nd quarter. Natural Investments LLC now owns 14,022 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 5,372 shares during the period. Finally, Symphony Financial Ltd. Co. raised its holdings in Wells Fargo & Company by 41.9% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 4,959 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 1,465 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $89.28 on Thursday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $86.48 and its two-hundred day moving average price is $82.59. The firm has a market cap of $269.98 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were paid a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. Wells Fargo & Company’s payout ratio is currently 29.07%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. UBS Group lowered their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Company Profile

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.