Axxcess Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 496.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 430,025 shares of the financial services provider’s stock after buying an additional 357,925 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $40,078,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Private Wealth Group LLC raised its stake in Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 108 shares during the period. Simmons Bank raised its stake in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares during the period. Moss Adams Wealth Advisors LLC raised its stake in Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the period. Main Street Group LTD raised its stake in Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the period. Finally, D Orazio & Associates Inc. raised its stake in shares of Wells Fargo & Company by 3.6% in the 3rd quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 118 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. The Goldman Sachs Group reduced their price target on shares of 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. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Wednesday, April 1st. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Finally, Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Two investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.53.
Wells Fargo & Company Trading Up 0.1%
Shares of WFC stock opened at $75.90 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $232.27 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.89 and a beta of 0.96. The company has a 50 day moving average price of $78.92 and a 200 day moving average price of $85.31. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week high of $97.76.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping 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 company had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.45 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is 27.78%.
Insider Buying and Selling at Wells Fargo & Company
In related news, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president owned 83,478 shares in the company, valued at $7,270,933.80. This represents a 26.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by corporate insiders.
Trending Headlines about Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Analysts highlighted Wells Fargo’s cost-cutting efforts and improving efficiency metrics, saying they could help the bank move closer to its 17%-18% ROTCE target, which supports the long-term earnings story. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
- Positive Sentiment: Wall Street’s read on the $110 million discrimination settlement was constructive, with analysts still favoring the stock and insiders reportedly buying into the news, suggesting the legal issue may be more manageable than feared. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
- Positive Sentiment: Another market note said Wells Fargo has received an average brokerage recommendation of “Moderate Buy,” reinforcing the idea that sentiment remains favorable despite recent headlines. Wells Fargo & Company (NYSE:WFC) Given Average Recommendation of “Moderate Buy” by Brokerages
- Neutral Sentiment: Wells Fargo agreed to create a $100 million mortgage assistance fund as part of a discrimination lawsuit settlement, which removes some legal uncertainty but also underscores ongoing reputational and compliance costs. Wells Fargo Settlement Fund Reshapes Legal Overhang And Mortgage Growth Story
- Neutral Sentiment: Wells Fargo also trimmed Meta Platforms’ price target slightly while keeping an Overweight rating, a reminder that the bank’s research franchise remains active but this item is not directly tied to WFC’s own fundamentals. Wells Fargo Trims Meta Platforms Price Target to $765: Why the AI Infrastructure Bet Still Has Believers
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.
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