Wells Fargo & Company $WFC Shares Acquired by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer increased its Wells Fargo stake by 20.9% in the third quarter, acquiring 700,224 additional shares for a total holding valued at approximately $324.2 million. Institutional investors collectively own 75.9% of Wells Fargo.
• Analysts maintain a generally positive outlook, with Wells Fargo holding a “Moderate Buy” consensus rating and an average price target of $98.11, above its reported opening price of $83.39.
• Wells Fargo exceeded quarterly EPS expectations with $1.87 versus $1.85, while revenue reached $21.87 billion. The company also declared a quarterly dividend of $0.50 per share, representing a 2.4% annualized yield.

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,045,890 shares of the financial services provider's stock after acquiring an additional 700,224 shares during the quarter. Wells Fargo & Company comprises approximately 0.8% of Bank Julius Baer & Co. Ltd Zurich's portfolio, making the stock its 29th biggest holding. Bank Julius Baer & Co. Ltd Zurich owned about 0.13% of Wells Fargo & Company worth $324,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $28,000. Phillip James Consulting Co. bought a new position in Wells Fargo & Company in the 1st quarter valued at about $28,000. Dunhill Financial LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $30,000. Main Street Group LTD acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $29,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial boosted their target price on Wells Fargo & Company from $94.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Keefe, Bruyette & Woods reduced their price target on Wells Fargo & Company from $94.00 to $90.00 and set a "market perform" rating for the company in a research report on Wednesday, October 14th. Raymond James Financial restated a "market perform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. HSBC assumed coverage on shares of Wells Fargo & Company in a report on Monday, September 28th. They set a "buy" rating and a $108.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $91.50 to $92.00 and gave the company a "neutral" rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.11.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $83.39 on Monday. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $250.32 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.93. The company's fifty day moving average price is $84.33 and its 200 day moving average price is $83.70.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The company had revenue of $21.87 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same quarter last year, the firm earned $1.66 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 7.27 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 6th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.21%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.

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