Vontobel Holding Ltd. Purchases 62,642 Shares of Wells Fargo & Company $WFC

Vontobel Holding Ltd. grew its position in Wells Fargo & Company (NYSE:WFC) by 118.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 115,515 shares of the financial services provider’s stock after purchasing an additional 62,642 shares during the period. Vontobel Holding Ltd.’s holdings in Wells Fargo & Company were worth $9,682,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WFC. Hilton Capital Management LLC acquired a new position in Wells Fargo & Company during the second quarter worth $3,656,000. Three Bridge Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $364,000. NatWest Group plc lifted its stake in Wells Fargo & Company by 4.6% in the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after purchasing an additional 7,934 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $40,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Wells Fargo & Company by 4,148.2% during the 1st quarter. Truvestments Capital LLC now owns 30,332 shares of the financial services provider’s stock worth $2,178,000 after purchasing an additional 29,618 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, December 18th. UBS Group cut their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Keefe, Bruyette & Woods raised their price objective 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. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.04.

Wells Fargo & Company Price Performance

WFC stock opened at $95.28 on Thursday. The company has a market capitalization of $299.09 billion, a PE ratio of 15.67, a P/E/G ratio of 0.98 and a beta of 1.11. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $95.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The business’s fifty day moving average price is $87.46 and its 200 day moving average price is $82.77.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

About Wells Fargo & Company

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.