Erste Asset Management GmbH Purchases 10,667 Shares of Wells Fargo & Company $WFC

Erste Asset Management GmbH boosted its position in Wells Fargo & Company (NYSE:WFC) by 5.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 206,621 shares of the financial services provider’s stock after buying an additional 10,667 shares during the quarter. Erste Asset Management GmbH’s holdings in Wells Fargo & Company were worth $19,518,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $4,512,563,000. Capital Research Global Investors lifted its stake in Wells Fargo & Company by 4.9% in 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 period. Legal & General Group Plc lifted its stake 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 valued at $1,975,600,000 after buying an additional 188,186 shares during the period. Boston Partners lifted its stake in Wells Fargo & Company by 1.9% in the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock valued at $763,675,000 after buying an additional 174,350 shares during the period. Finally, Davis Selected Advisers lifted its stake in Wells Fargo & Company by 6.1% in the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock valued at $769,649,000 after buying an additional 471,979 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. HSBC raised 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. Wall Street Zen lowered Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Finally, Jefferies Financial Group started coverage on Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $80.95 on Tuesday. 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 has a 52 week low of $71.93 and a 52 week high of $97.76. The stock has a market capitalization of $247.71 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The stock has a fifty day moving average of $79.24 and a 200-day moving average of $84.69.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is 27.78%.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo is included in a planned tokenized deposit network with JPMorgan, Bank of America and Citigroup, a move that could help large banks compete with stablecoins and improve payments infrastructure by 2027. Big Banks Eye Tokenized Deposits as Stablecoin Competition Heats Up
• Positive Sentiment: Analysts remain constructive on WFC, with Bank of America Securities reiterating a Buy rating and an unchanged $95 price target, citing attractive risk/reward. Wells Fargo: Buy Rating Reiterated as Analyst Sees Attractive Risk‑Reward with Unchanged $95 Price Target
• Positive Sentiment: Some commentary says Wells Fargo looks more attractive as recession fears ease, which supports the bank’s earnings outlook and broader sector sentiment. Wells Fargo (WFC) Looks Attractive as Recession Fears Ease

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.