Shepherd Street Advisors LLC Takes Position in Wells Fargo & Company $WFC

Shepherd Street Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,397 shares of the financial services provider’s stock, valued at approximately $2,833,000. Wells Fargo & Company makes up approximately 2.7% of Shepherd Street Advisors LLC’s holdings, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $4,512,563,000. Capital Research Global Investors raised its position in shares of Wells Fargo & Company by 18.6% in the 3rd 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 buying an additional 5,584,930 shares in the last quarter. Mawer Investment Management Ltd. raised its position in shares of Wells Fargo & Company by 177.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after buying an additional 3,120,399 shares in the last quarter. Danske Bank A S acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $215,638,000. Finally, M&G PLC raised its position in shares of Wells Fargo & Company by 320.3% in the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock valued at $247,487,000 after buying an additional 2,245,307 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company News Summary

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 Trading Up 2.9%

WFC opened at $79.43 on Wednesday. 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. The firm has a market capitalization of $243.07 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.90 and a beta of 0.93. The company’s 50 day moving average price is $79.08 and its two-hundred day moving average price is $84.84.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period in the previous year, the firm posted $1.39 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WFC. Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.53.

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.