Zurcher Kantonalbank Zurich Cantonalbank Has $146.13 Million Stake in Wells Fargo & Company $WFC
by Doug Wharley · The Cerbat GemZurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,567,954 shares of the financial services provider’s stock after selling 58,967 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wells Fargo & Company were worth $146,133,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in shares of Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after buying an additional 5,584,930 shares in the last quarter. Danske Bank A S acquired a new position in Wells Fargo & Company during the 3rd quarter worth about $215,638,000. M&G PLC grew its holdings in Wells Fargo & Company by 320.3% during the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock worth $247,487,000 after acquiring an additional 2,245,307 shares during the last quarter. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company during the 3rd quarter worth about $147,165,000. Finally, Mondrian Investment Partners LTD acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $138,398,000. Institutional investors and hedge funds own 75.90% of the company’s stock.
Insider Buying and Selling
In related news, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the transaction, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. The trade was a 26.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,000 shares of company stock valued at $10,050,000 over the last three months. Company insiders own 0.14% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on WFC shares. Keefe, Bruyette & Woods dropped their target price on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Truist Financial lowered their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. TD Cowen dropped their price objective on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Morgan Stanley reduced their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.75.
Get Our Latest Stock Analysis on WFC
Wells Fargo & Company Stock Up 0.1%
Shares of NYSE WFC opened at $81.47 on Monday. Wells Fargo & Company has a 1 year low of $63.40 and a 1 year high of $97.76. The firm’s 50-day moving average is $82.24 and its 200-day moving average is $86.16. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $251.37 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.95 and a beta of 1.06.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $21.45 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.
Wells Fargo & 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.
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