Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Sells 9,850 Shares of Wells Fargo & Company $WFC

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 78.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,763 shares of the financial services provider’s stock after selling 9,850 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in Wells Fargo & Company were worth $258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Navalign LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $27,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company News Roundup

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

Wells Fargo & Company Stock Up 0.1%

Wells Fargo & Company stock opened at $82.06 on Monday. The stock has a market capitalization 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 twelve month low of $71.93 and a twelve 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 company has a 50 day moving average of $79.20 and a 200-day moving average of $84.71.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS 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 net margin of 17.26% and a return on equity of 13.27%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Truist Financial decreased their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Wednesday, April 1st. Finally, Barclays decreased their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.