Wells Fargo & Company $WFC Stock Position Decreased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 84.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,846 shares of the financial services provider’s stock after selling 73,078 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Wells Fargo & Company were worth $1,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WFC. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $29,000. Motco boosted its position in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. Finally, Nova Wealth Management Inc. boosted its position in shares of Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after buying an additional 227 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $87.31 on Tuesday. The company’s fifty day moving average is $82.89 and its 200-day moving average is $78.85. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.89. The firm has a market cap of $279.70 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 EPS. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Evercore ISI raised their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.