TD Waterhouse Canada Inc. Decreases Stock Position in Wells Fargo & Company $WFC

TD Waterhouse Canada Inc. reduced its position in Wells Fargo & Company (NYSE:WFC) by 48.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 111,178 shares of the financial services provider’s stock after selling 106,592 shares during the period. TD Waterhouse Canada Inc.’s holdings in Wells Fargo & Company were worth $9,052,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Wells Fargo & Company by 2,735,254.3% in 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 buying an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Wells Fargo & Company by 54.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares during the period. Strs Ohio acquired a new stake in Wells Fargo & Company during the first quarter worth about $109,643,000. Canada Pension Plan Investment Board grew its holdings in shares of Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after purchasing an additional 1,365,629 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.4%

Shares of Wells Fargo & Company stock opened at $84.20 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64. The firm has a market capitalization of $264.30 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The stock’s fifty day moving average is $83.94 and its 200-day moving average is $80.16.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period last year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WFC shares. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Truist Financial raised their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Evercore ISI raised their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Bank of America increased their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

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.