Wells Fargo & Company $WFC Stock Position Cut by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its stake in Wells Fargo & Company (NYSE:WFC) by 30.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,873 shares of the financial services provider’s stock after selling 23,048 shares during the period. Vontobel Holding Ltd.’s holdings in Wells Fargo & Company were worth $4,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Wells Fargo & Company by 296.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 513 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Wells Fargo & Company by 11.3% in the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock valued at $3,393,000 after acquiring an additional 4,786 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in Wells Fargo & Company by 34.3% in the 1st quarter. Simon Quick Advisors LLC now owns 18,485 shares of the financial services provider’s stock valued at $1,327,000 after acquiring an additional 4,720 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in Wells Fargo & Company by 0.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 177,521 shares of the financial services provider’s stock valued at $12,744,000 after acquiring an additional 917 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.74 on Friday. The firm has a market cap of $249.04 billion, a PE ratio of 13.31, a PEG ratio of 1.29 and a beta of 1.25. The firm’s 50 day moving average price is $80.63 and its 200 day moving average price is $76.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is 30.82%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WFC shares. Citigroup upped 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. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Nine equities research 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 a consensus price target of $85.41.

About Wells Fargo & Company

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.