Nykredit A S acquired a new stake in Wells Fargo & Company (NYSE:WFC – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,952,772 shares of the financial services provider’s stock, valued at approximately $244,017,000. Wells Fargo & Company comprises about 0.8% of Nykredit A S’s portfolio, making the stock its 22nd biggest holding. Nykredit A S owned 0.10% of Wells Fargo & Company at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Nixon Peabody Trust Co. lifted its position in shares of Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after buying an additional 115 shares during the last quarter. MFA Wealth Services grew its position in Wells Fargo & Company by 0.7% in the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 115 shares during the last quarter. Simmons Bank grew its position in Wells Fargo & Company by 1.9% in the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 116 shares during the last quarter. Wood Tarver Financial Group LLC raised its stake in Wells Fargo & Company by 1.6% during the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after acquiring an additional 120 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC raised its stake in Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 124 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently weighed in on WFC. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Truist Financial raised their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, UBS Group decreased their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.61.
Wells Fargo & Company Stock Performance
Shares of WFC stock opened at $89.28 on Thursday. The business’s 50-day moving average price is $86.48 and its 200-day moving average price is $82.59. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The firm has a market capitalization of $269.98 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.95 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current year.
Wells Fargo & Company Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is presently 29.07%.
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.
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