Swedbank AB Decreases Position in Wells Fargo & Company (NYSE:WFC)

Swedbank AB cut its position in Wells Fargo & Company (NYSE:WFC) by 0.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 754,532 shares of the financial services provider’s stock after selling 1,570 shares during the period. Swedbank AB’s holdings in Wells Fargo & Company were worth $52,998,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Field & Main Bank raised its holdings in shares of Wells Fargo & Company by 4.7% during the fourth quarter. Field & Main Bank now owns 8,250 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 368 shares during the last quarter. Allen Capital Group LLC raised its holdings in shares of Wells Fargo & Company by 10.9% during the fourth quarter. Allen Capital Group LLC now owns 8,056 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 792 shares during the last quarter. Strategic Blueprint LLC raised its holdings in shares of Wells Fargo & Company by 12.7% during the fourth quarter. Strategic Blueprint LLC now owns 5,466 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 618 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Wells Fargo & Company by 2,510.3% during the fourth quarter. Hantz Financial Services Inc. now owns 91,543 shares of the financial services provider’s stock valued at $6,430,000 after purchasing an additional 88,036 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $264,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $78.41 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a fifty day moving average price of $73.35 and a 200 day moving average price of $64.38. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.98. The firm has a market cap of $261.07 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.