Vontobel Holding Ltd. Has $4.24 Million Position in Wells Fargo & Company $WFC

Vontobel Holding Ltd. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 30.4% during the second quarter, Holdings Channel reports. The institutional investor owned 52,873 shares of the financial services provider’s stock after selling 23,048 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wells Fargo & Company were worth $4,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WFC. CBIZ Investment Advisory Services LLC boosted its stake in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares in the last quarter. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $29,000. 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $31,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WFC shares. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $77.74 on Friday. The stock has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.29 and a beta of 1.25. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $80.63 and a two-hundred day moving average price of $76.51.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.3%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

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.