Wells Fargo & Company $WFC Stock Position Cut by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 734,657 shares of the financial services provider’s stock after selling 18,491 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Wells Fargo & Company were worth $61,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Access Investment Management LLC bought a new stake in Wells Fargo & Company during the second quarter worth approximately $25,000. Marquette Asset Management LLC boosted its stake in Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $30,000. Kilter Group LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $31,000. Finally, Aventus Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth $37,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a report on Thursday, January 15th. Evercore reduced their target price on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Wells Fargo & Company Price Performance

WFC stock opened at $86.94 on Tuesday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76. The firm has a 50-day moving average of $91.74 and a two-hundred day moving average of $85.97. The firm has a market capitalization of $272.92 billion, a PE ratio of 13.87, a P/E/G ratio of 0.95 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be issued a $0.45 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

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.