Skandinaviska Enskilda Banken AB publ Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,917 shares of the financial services provider’s stock after buying an additional 63,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Wells Fargo & Company were worth $54,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Covestor Ltd grew its holdings in shares of Wells Fargo & Company by 17.3% during the third quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 196 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $176,000. Venturi Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 21.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,773 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 495 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Wells Fargo & Company by 6.7% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,115 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 259 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in Wells Fargo & Company by 208.3% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 21,730 shares of the financial services provider’s stock valued at $1,226,000 after buying an additional 14,682 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $68.98 on Thursday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a market capitalization of $226.83 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.18 and a beta of 1.16. The stock has a fifty day moving average of $75.94 and a two-hundred day moving average of $68.74. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Profile

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.