Cambient Family Office LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,878 shares of the financial services provider’s stock, valued at approximately $1,014,000.
A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $4,512,563,000. Capital Research Global Investors raised its stake in Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock valued at $3,487,687,000 after buying an additional 1,760,484 shares during the last quarter. Legal & General Group Plc boosted its holdings in Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after acquiring an additional 188,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Wells Fargo & Company by 13.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock worth $1,922,257,000 after acquiring an additional 2,369,260 shares in the last quarter. Finally, Boston Partners boosted its holdings in Wells Fargo & Company by 5.2% in the fourth quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock worth $895,466,000 after acquiring an additional 477,745 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on WFC shares. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Barclays cut their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 15th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Finally, Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.24.
Wells Fargo & Company Price Performance
NYSE WFC opened at $82.31 on Friday. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a 50-day moving average of $79.75 and a 200 day moving average of $84.60. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $251.89 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.98 and a beta of 0.93.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter in the prior year, the business earned $1.39 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that Wells Fargo & Company will post 6.86 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.45 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.
Wells Fargo & Company News Roundup
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
- Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
- Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
- Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
- Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets
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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