Marble Wealth LLC Invests $1.20 Million in Wells Fargo & Company $WFC

Marble Wealth LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,893 shares of the financial services provider’s stock, valued at approximately $1,202,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $4,512,563,000. Capital Research Global Investors lifted 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 purchasing an additional 5,584,930 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of 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 purchasing an additional 188,186 shares in the last quarter. Boston Partners lifted its stake 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 in the last quarter. Finally, Davis Selected Advisers lifted its stake 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 in the last quarter. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on WFC. UBS Group restated a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. The Goldman Sachs Group cut their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo shares rose as recent market commentary highlighted the stock’s recent strength versus the broader market, reinforcing momentum in the name. Wells Fargo (WFC) Rises Higher Than Market: Key Facts
• Positive Sentiment: Investors are also weighing Wells Fargo’s valuation after a recent pullback, which may be drawing value-oriented buyers into the stock. Is Wells Fargo (WFC) Offering Value After Recent Share Price Pullback?
• Positive Sentiment: Wells Fargo is set to present at the Morgan Stanley U.S. Financials Conference next week, which keeps the company in focus and could provide fresh updates on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference

Wells Fargo & Company Stock Up 2.9%

Wells Fargo & Company stock opened at $79.43 on Wednesday. The firm has a market capitalization of $243.07 billion, a PE ratio of 12.26, a P/E/G ratio of 0.90 and a beta of 0.93. The company’s 50-day moving average is $79.08 and its 200-day moving average is $84.84. Wells Fargo & Company has a fifty-two week low of $71.93 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

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 for the quarter, topping the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s payout ratio is currently 27.78%.

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.