Wells Fargo & Company $WFC Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,386,920 shares of the financial services provider’s stock after selling 270,616 shares during the period. Wells Fargo & Company comprises approximately 0.7% of O Shaughnessy Asset Management LLC’s holdings, making the stock its 16th largest position. O Shaughnessy Asset Management LLC’s holdings in Wells Fargo & Company were worth $129,261,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at $27,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company during the 4th quarter valued at $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $82.06 on Monday. Wells Fargo & Company has a 1-year low of $71.93 and a 1-year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $79.20 and a 200 day simple moving average of $84.71. The stock has a market capitalization of $251.13 billion, a PE ratio of 12.66, a P/E/G ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. During the same period last year, the business earned $1.39 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 6.84 EPS 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. Investors of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is 27.78%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WFC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Wall Street Zen lowered shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 target price on the stock. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

About Wells Fargo & Company

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.