Handelsbanken Fonder AB Has $95.23 Million Stock Holdings in Wells Fargo & Company $WFC

Handelsbanken Fonder AB decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,152,317 shares of the financial services provider’s stock after selling 57,139 shares during the period. Handelsbanken Fonder AB’s holdings in Wells Fargo & Company were worth $95,227,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Jump Financial LLC increased its position in Wells Fargo & Company by 12.9% during the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC increased its position in Wells Fargo & Company by 111.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 8,714 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WFC shares. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. Bank of America raised their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Robert W. Baird boosted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Stock Up 0.3%

Shares of NYSE:WFC opened at $87.55 on Tuesday. The firm has a market cap of $264.75 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.95 and a beta of 0.92. 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. The business has a fifty day simple moving average of $85.10 and a 200 day simple moving average of $83.03.

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

Wells Fargo & Company Increases Dividend

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