Handelsbanken Fonder AB Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)

Handelsbanken Fonder AB lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,190,933 shares of the financial services provider’s stock after selling 72,166 shares during the quarter. Handelsbanken Fonder AB’s holdings in Wells Fargo & Company were worth $58,618,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WFC. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company during the third quarter worth about $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on WFC shares. Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Piper Sandler decreased their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Barclays lifted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Finally, HSBC lifted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Trading Up 2.7 %

Wells Fargo & Company stock traded up $1.61 during midday trading on Friday, reaching $60.35. The stock had a trading volume of 34,334,317 shares, compared to its average volume of 15,430,011. The firm’s fifty day simple moving average is $55.88 and its two-hundred day simple moving average is $48.89. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $60.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $213.66 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.17 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

About Wells Fargo & Company

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.