Regal Partners Ltd Reduces Stock Position in Wells Fargo & Company $WFC

Regal Partners Ltd reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 719,848 shares of the financial services provider’s stock after selling 34,000 shares during the quarter. Wells Fargo & Company makes up about 4.8% of Regal Partners Ltd’s holdings, making the stock its 8th largest position. Regal Partners Ltd’s holdings in Wells Fargo & Company were worth $57,674,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after acquiring an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after acquiring an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after acquiring an additional 7,894,919 shares during the period. Pzena Investment Management LLC lifted its holdings in Wells Fargo & Company by 5.5% during the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after acquiring an additional 542,493 shares during the period. Finally, Boston Partners lifted its holdings in Wells Fargo & Company by 6.2% during the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after acquiring an additional 523,107 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on WFC shares. Bank of America lifted their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $87.19 on Friday. The stock has a market cap of $279.30 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $82.75 and a 200-day moving average of $78.59.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

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.