Wells Fargo & Company $WFC Shares Sold by NS Partners Ltd

NS Partners Ltd cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 251,373 shares of the financial services provider’s stock after selling 11,445 shares during the period. NS Partners Ltd’s holdings in Wells Fargo & Company were worth $20,773,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $4,512,563,000. Legal & General Group Plc bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth approximately $1,635,881,000. Bank of New York Mellon Corp bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth approximately $1,364,923,000. Deutsche Bank AG acquired a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $859,431,000. Finally, Pzena Investment Management LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $729,502,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Robert W. Baird lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. UBS Group decreased their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Stock Performance

WFC stock opened at $86.42 on Tuesday. The company has a 50-day simple moving average of $86.32 and a 200 day simple moving average of $82.59. The company has a market capitalization of $261.33 billion, a P/E ratio of 12.56, a PEG ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.73 by $0.23. The firm had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. Wells Fargo & Company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. Sell-side analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.