Wells Fargo & Company $WFC Shares Sold by NS Partners Ltd

NS Partners Ltd cut its holdings in Wells Fargo & Company (NYSE:WFC) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 251,373 shares of the financial services provider’s stock after selling 11,445 shares during the quarter. NS Partners Ltd’s holdings in Wells Fargo & Company were worth $20,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Miller Capital Partners Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new position in Wells Fargo & Company in the first quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WFC. Truist Financial increased their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Morgan Stanley lifted their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Bank of America upped their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.61.

Wells Fargo & Company Price Performance

WFC opened at $86.42 on Tuesday. The firm has a market capitalization of $261.33 billion, a P/E ratio of 12.56, a PEG ratio of 0.94 and a beta of 0.92. The stock has a fifty day moving average of $86.32 and a 200-day moving average of $82.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.Wells Fargo & Company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, August 7th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.