Wells Fargo & Company $WFC Position Lessened by Capital International Investors

Capital International Investors decreased its stake in Wells Fargo & Company (NYSE:WFC) by 28.1% during the 4th quarter, HoldingsChannel reports. The firm owned 25,557,973 shares of the financial services provider’s stock after selling 9,987,607 shares during the period. Capital International Investors’ holdings in Wells Fargo & Company were worth $2,382,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $4,512,563,000. Capital Research Global Investors increased its position in Wells Fargo & Company by 18.6% in the 3rd 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 during the period. Legal & General Group Plc increased its position in Wells Fargo & Company by 0.9% in the 4th quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after acquiring an additional 188,186 shares during the period. Boston Partners increased its position in Wells Fargo & Company by 1.9% in the 3rd quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock valued at $763,675,000 after acquiring an additional 174,350 shares during the period. Finally, Davis Selected Advisers increased its position in Wells Fargo & Company by 6.1% in the 4th quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock valued at $769,649,000 after acquiring an additional 471,979 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $82.06 on Friday. The stock has a market cap of $251.13 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a 12 month low of $71.93 and a 12 month 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. The business has a fifty day simple moving average of $79.20 and a 200-day simple moving average of $84.70.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is currently 27.78%.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts remain constructive on Wells Fargo after management offered a strong outlook, with coverage showing a majority Buy rating and implied upside to the shares. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Wells Fargo is also part of a planned shared tokenized deposit network led by The Clearing House, suggesting the bank is positioning itself for faster, blockchain-based payments and a new growth avenue. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Coverage noting that Wells Fargo is a trending stock points to heightened investor attention, but it does not add new fundamentals by itself. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo’s role in the tokenized-deposit network was reiterated in separate reports, reinforcing the strategic theme rather than signaling an immediate financial impact. Tokenized Deposits Set Up Banking’s Next Network Race

Analysts Set New Price Targets

Several research firms recently commented on WFC. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Saturday. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods lowered their price target on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $97.53.

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.