Wells Fargo & Company $WFC Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in Wells Fargo & Company by 3.1%, holding 807,375 shares worth approximately $64.69 million as of the last reporting period.
• Wells Fargo recently reported earnings of $1.54 per share, exceeding analyst estimates of $1.41, with a revenue of $20.82 billion for the quarter.
• The company announced a quarterly dividend of $0.45, an increase from the previous $0.40, reflecting a 30.82% payout ratio and a yield of 2.2%.

Swedbank AB increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 807,375 shares of the financial services provider's stock after purchasing an additional 24,178 shares during the quarter. Swedbank AB's holdings in Wells Fargo & Company were worth $64,687,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after purchasing an additional 322 shares during the period. Motco lifted its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at $29,000. 1248 Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth about $31,000. Finally, Stone House Investment Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, Truist Financial increased their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.56.

Wells Fargo & Company Stock Up 1.2%

Wells Fargo & Company stock opened at $83.51 on Friday. The stock has a market capitalization of $267.51 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.28 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average of $80.40 and a two-hundred day moving average of $75.30. Wells Fargo & Company has a twelve month low of $53.31 and a twelve month high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

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.

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