Mn Services Vermogensbeheer B.V. Sells 115,900 Shares of Wells Fargo & Company $WFC

Mn Services Vermogensbeheer B.V. cut its position in Wells Fargo & Company (NYSE:WFC) by 8.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,219,400 shares of the financial services provider’s stock after selling 115,900 shares during the quarter. Wells Fargo & Company makes up approximately 0.7% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 25th largest holding. Mn Services Vermogensbeheer B.V.’s holdings in Wells Fargo & Company were worth $97,698,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC bought a new position in Wells Fargo & Company in the second quarter worth about $377,000. Wedmont Private Capital raised its holdings in Wells Fargo & Company by 6.9% in the second quarter. Wedmont Private Capital now owns 151,021 shares of the financial services provider’s stock worth $12,352,000 after purchasing an additional 9,724 shares in the last quarter. Swedbank AB raised its holdings in Wells Fargo & Company by 3.1% in the second quarter. Swedbank AB now owns 807,375 shares of the financial services provider’s stock worth $64,687,000 after purchasing an additional 24,178 shares in the last quarter. Secure Asset Management LLC increased its holdings in shares of Wells Fargo & Company by 10.8% during the second quarter. Secure Asset Management LLC now owns 6,833 shares of the financial services provider’s stock valued at $547,000 after acquiring an additional 667 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Wells Fargo & Company by 2.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 440,326 shares of the financial services provider’s stock valued at $35,279,000 after acquiring an additional 10,349 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WFC. Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.56.

Wells Fargo & Company Trading Up 1.1%

Wells Fargo & Company stock opened at $82.30 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $53.31 and a 12 month high of $84.83. The stock’s 50 day simple moving average is $80.37 and its two-hundred day simple moving average is $75.25. The firm has a market cap of $263.64 billion, a PE ratio of 14.09, a P/E/G ratio of 1.26 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 30.82%.

Wells Fargo & Company 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.