S&CO Inc. trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.2% during the fourth quarter, Holdings Channel reports. The firm owned 35,649 shares of the financial services provider’s stock after selling 7,929 shares during the quarter. S&CO Inc.’s holdings in Wells Fargo & Company were worth $3,322,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Private Wealth Group LLC lifted its stake in Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 108 shares in the last quarter. Simmons Bank lifted its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares in the last quarter. Main Street Group LTD lifted its position in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its position in shares of Wells Fargo & Company by 3.6% during the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 118 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Wells Fargo & Company Stock Down 0.5%
Shares of NYSE:WFC opened at $73.46 on Friday. The firm’s 50 day moving average price is $79.30 and its 200 day moving average price is $85.64. The stock has a market cap of $224.79 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.87 and a beta of 0.96. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.
Insider Buying and Selling at Wells Fargo & Company
In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the sale, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock worth $10,050,000 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.
Trending Headlines about Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Negative Sentiment: JPMorgan reiterated a Hold rating on Wells Fargo and cut its price target to $86.50 from $91, reinforcing a more cautious near-term outlook for the stock. Wells Fargo (WFC) Stock Expected To Stay Under Pressure In The Short Term
- Neutral Sentiment: Wells Fargo announced cash dividends on six series of preferred stock, a routine capital return update that should not materially change the near-term outlook for common shares. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
- Neutral Sentiment: Commentary around Wells Fargo’s post-earnings performance noted that the stock remains below its recent levels after the company’s latest results, with investors still assessing whether revenue growth can offset higher compensation and technology costs. Wells Fargo Revenues Are Rising, But Can It Bend the Cost Curve?
- Neutral Sentiment: Wells Fargo’s economists changed their view on the timing of the next Fed rate cut, highlighting uncertainty around inflation and interest-rate expectations that could influence bank earnings and net interest income. Wells Fargo sees writing on the wall about the next Fed rate cut
- Negative Sentiment: Broader financial stocks weakened in the latest session, which may be adding pressure to Wells Fargo as part of a sector-wide move lower. Sector Update: Financial Stocks Fall Wednesday
Wall Street Analyst Weigh In
Several analysts have recently issued reports on WFC shares. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Barclays reduced their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group reduced their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.53.
Read Our Latest Stock Analysis on Wells Fargo & Company
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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