Capital World Investors Sells 380,041 Shares of Wells Fargo & Company $WFC

Capital World Investors reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,862,568 shares of the financial services provider’s stock after selling 380,041 shares during the period. Capital World Investors’ holdings in Wells Fargo & Company were worth $1,664,916,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at $27,000. Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Core Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $29,000. 75.90% of the stock is owned by institutional investors.

More Wells Fargo & Company News

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WFC shares. Piper Sandler reissued 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. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, April 1st. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Truist Financial decreased their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Trading Up 0.5%

Shares of Wells Fargo & Company stock opened at $82.06 on Friday. The business has a fifty day simple moving average of $79.20 and a two-hundred day simple moving average of $84.70. Wells Fargo & Company has a 1 year low of $71.93 and a 1 year high of $97.76. The company has a market capitalization of $251.13 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.96 and a beta of 0.93. 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 announced its quarterly 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 return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend 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 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.