Wells Fargo & Company (NYSE:WFC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its stake in Wells Fargo & Company (NYSE:WFC) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 716,357 shares of the financial services provider’s stock after selling 2,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Wells Fargo & Company were worth $42,512,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WFC. John W. Brooker & Co. CPAs boosted its position in Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 171 shares during the last quarter. McAdam LLC boosted its position in Wells Fargo & Company by 3.3% during the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 178 shares during the last quarter. Prentice Wealth Management LLC boosted its position in Wells Fargo & Company by 2.0% during the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after acquiring an additional 184 shares during the last quarter. Clearstead Trust LLC boosted its position in Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 186 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its position in Wells Fargo & Company by 3.4% during the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WFC shares. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI reduced their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company Price Performance

Shares of WFC opened at $55.80 on Friday. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The firm’s 50 day moving average price is $56.19 and its 200 day moving average price is $57.88. The company has a market cap of $194.54 billion, a P/E ratio of 11.46, a PEG ratio of 1.27 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the prior year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.