QRG Capital Management Inc. boosted its position in Wells Fargo & Company (NYSE:WFC) by 8.7% in the first quarter, HoldingsChannel reports. The firm owned 557,958 shares of the financial services provider’s stock after buying an additional 44,771 shares during the quarter. QRG Capital Management Inc.’s holdings in Wells Fargo & Company were worth $44,419,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Norges Bank purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $4,512,563,000. Capital Research Global Investors grew its holdings 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 acquiring an additional 5,584,930 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of Wells Fargo & Company by 177.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after acquiring an additional 3,120,399 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $215,638,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Wells Fargo & Company by 13.0% during 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 valued at $1,922,257,000 after acquiring an additional 2,369,260 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company News Roundup
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Analysts recently lifted price targets on Wells Fargo, including a Morgan Stanley target of $102, reinforcing a constructive view on the bank ahead of earnings. Wells Fargo Stock (WFC) Opinions on Analyst Price Target Increases
- Positive Sentiment: Wells Fargo is benefiting from expectations that Q2 results could show improved earnings, with analysts forecasting EPS around $1.71 and revenue near $21.81 billion. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
- Positive Sentiment: Investor sentiment was also helped by recent news that the stock rose after dividend hike news, pointing to continued capital return strength. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
- Positive Sentiment: Senator Mitch McConnell disclosed a new purchase of WFC shares, adding a modest political-sentiment boost. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
- Neutral Sentiment: Recent commentary continues to compare Wells Fargo with other major banks as investors look for value and income opportunities, but this is more of a sector discussion than a company-specific catalyst. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
- Neutral Sentiment: Some articles noted that Wells Fargo could benefit from potential tariff refunds and other non-operating gains, but the impact is still uncertain and not yet reflected in results. Wells Fargo (WFC) Could Get An Earnings Lift From Supreme Court Tariff Refunds
- Negative Sentiment: Longer-term concerns remain around Wells Fargo’s lagging return on equity and pressure on net interest margins, which could cap enthusiasm if earnings disappoint. Wells Fargo Stock Has Lagged Other Banks. Earnings Can Change That.
Analysts Set New Price Targets
View Our Latest Analysis on WFC
Wells Fargo & Company Trading Down 0.0%
Shares of WFC stock opened at $85.49 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a market cap of $261.61 billion, a P/E ratio of 13.19, a PEG ratio of 0.98 and a beta of 0.92. The company has a 50 day moving average of $80.05 and a 200-day moving average of $84.23. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 6.98 earnings per share for the current year.
Wells Fargo & Company Announces Dividend
The company 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 dividend on an annualized basis 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 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.
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