Cibc World Market Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC – Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 848,994 shares of the financial services provider’s stock after selling 6,870 shares during the quarter. Cibc World Market Inc.’s holdings in Wells Fargo & Company were worth $79,126,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in WFC. Brighton Jones LLC lifted its position in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the period. Jump Financial LLC lifted 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 acquiring an additional 2,615 shares during the period. Main Street Financial Solutions LLC lifted 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 acquiring an additional 7,368 shares during the period. Vivaldi Capital Management LP lifted its position in Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 165 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of 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 buying an additional 8,714 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Bank of America said Wells Fargo may now be an attractive buying opportunity, noting the stock has fallen more sharply than its underlying fundamentals and now looks cheap relative to peers. Wells Fargo shares at attractive entry point amid execution concerns
- Neutral Sentiment: Wells Fargo is using recent publicity to highlight its consumer and housing franchise, including a new survey showing many first-time homebuyers lack mortgage knowledge. This is more of a brand and engagement story than a direct earnings catalyst. Are You Ready to Buy a Home? Wells Fargo Finds Most Prospective First-Time Buyers Aren’t and Don’t Know It
- Neutral Sentiment: Wells Fargo also announced that CFO Mike Santomassimo will present at the Morgan Stanley U.S. Financials Conference on June 9, which could provide fresh commentary on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference
- Negative Sentiment: Investor attention is still being weighed down by concerns around Wells Fargo’s execution and the lingering fallout from product-transition issues tied to Bilt’s move away from Wells Fargo as a banking partner, which has prompted CFPB involvement. CFPB Meets With Bilt Following Credit Card Switchover Issues
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on Wells Fargo & Company
Wells Fargo & Company Stock Performance
Shares of WFC stock opened at $78.72 on Thursday. The stock has a fifty day moving average price of $79.12 and a 200 day moving average price of $84.75. The stock has a market cap of $240.90 billion, a PE ratio of 12.15, a P/E/G ratio of 0.93 and a beta of 0.93. Wells Fargo & Company has a 1 year low of $71.93 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company’s payout ratio is currently 27.78%.
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.
Read More
- Five stocks we like better than Wells Fargo & Company
- Coke’s $10B India IPO Plan Pops the Top on Hidden Value
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.
