Nvwm LLC Increases Stake in Wells Fargo & Company $WFC

Nvwm LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 21.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,495 shares of the financial services provider’s stock after acquiring an additional 8,663 shares during the period. Wells Fargo & Company makes up 0.9% of Nvwm LLC’s investment portfolio, making the stock its 21st largest holding. Nvwm LLC’s holdings in Wells Fargo & Company were worth $3,885,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt increased its position in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after buying an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Pzena Investment Management LLC grew 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 boosted its position in shares of Wells Fargo & Company by 6.2% during the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after purchasing an additional 523,107 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WFC. The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Finally, Barclays increased their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Price Performance

NYSE WFC opened at $86.06 on Friday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.50. The stock’s 50-day moving average is $83.17 and its two-hundred day moving average is $79.11. The firm has a market cap of $275.69 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

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

Wells Fargo & Company Dividend Announcement

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

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.