Handelsbanken Fonder AB Buys 1,782 Shares of Wells Fargo & Company (NYSE:WFC)

Handelsbanken Fonder AB grew its position in Wells Fargo & Company (NYSE:WFC) by 0.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,202,581 shares of the financial services provider’s stock after purchasing an additional 1,782 shares during the period. Handelsbanken Fonder AB’s holdings in Wells Fargo & Company were worth $84,469,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Spinnaker Trust boosted its position in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after buying an additional 130 shares in the last quarter. Jacobsen Capital Management grew its position in Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 148 shares during the last quarter. New Republic Capital LLC increased its holdings in Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 149 shares in the last quarter. Quad Cities Investment Group LLC raised its position in Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares during the last quarter. Finally, Investors Research Corp raised its position in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.5 %

Shares of Wells Fargo & Company stock opened at $80.38 on Thursday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $267.63 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. The business has a 50-day moving average of $74.90 and a two-hundred day moving average of $66.64.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.99%. Wells Fargo & Company’s payout ratio is presently 29.74%.

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.