SEB Asset Management AB Takes Position in Wells Fargo & Company $WFC

SEB Asset Management AB acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the first quarter, Holdings Channel.com reports. The fund acquired 809,003 shares of the financial services provider’s stock, valued at approximately $64,405,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $87.52 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $267.82 billion, a PE ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The business’s fifty day moving average price is $81.44 and its 200 day moving average price is $83.77.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 26.16%.

Analyst Ratings Changes

A number of research firms recently commented on WFC. Barclays decreased their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Morgan Stanley raised their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Robert W. Baird lifted their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Finally, Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

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.