10,794 Shares in Wells Fargo & Company $WFC Purchased by Mangrove Partners IM LLC

Mangrove Partners IM LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,794 shares of the financial services provider’s stock, valued at approximately $905,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Wells Fargo & Company in the second quarter valued at approximately $3,436,000. ABN Amro Investment Solutions acquired a new position in Wells Fargo & Company during the second quarter valued at approximately $1,901,000. Schwarz Dygos Wheeler Investment Advisors LLC raised its position in Wells Fargo & Company by 3.1% during the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 41,121 shares of the financial services provider’s stock valued at $3,295,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Clearstead Trust LLC lifted its stake in Wells Fargo & Company by 82.0% during the second quarter. Clearstead Trust LLC now owns 2,366 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 1,066 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Down 1.5%

Shares of NYSE WFC opened at $74.11 on Friday. The firm has a 50 day moving average price of $87.72 and a two-hundred day moving average price of $86.47. The stock has a market cap of $228.67 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. Wells Fargo & Company’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s payout ratio is presently 28.71%.

Insiders Place Their Bets

In other news, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the transaction, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. This trade represents a 23.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares of the company’s stock, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 115,000 shares of company stock valued at $10,050,000. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Technically deeply oversold and analyst support could spark a relief bounce — MarketBeat notes WFC is trading well below recent highs, its RSI is in oversold territory, and several outlets/analysts maintain Outperform/Buy ratings and high price targets that imply significant upside if sentiment stabilizes. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Positive Sentiment: Strategic optionality in digital assets — filings show Wells Fargo has applied for a WFUSD trademark covering stablecoins and blockchain payment services, signaling a possible future new revenue stream (still speculative and regulatory-dependent). Wells Fargo Submits WFUSD Trademark Application
• Neutral Sentiment: Active analyst research flow — Wells Fargo analysts continue to move ratings/targets across sectors (cuts on Aptiv, upgrades in chemicals, positive calls on travel and retail names). This shows robust research activity that can influence trading in other names but is not directly catalytic for WFC’s fundamentals. Wells Fargo Cuts Aptiv Price Target Wells Fargo Upgrades Chemical Stocks
• Negative Sentiment: Earnings, revenue and operational concerns remain — MarketBeat highlights that WFC missed revenue/earnings expectations in January, has a relatively high efficiency ratio vs. peers, and saw headline risk from reported exposure to the failed U.K. mortgage finance firm Market Financial Solutions; those issues help explain selling pressure and could limit near-term multiple expansion. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. Barclays raised their target price on Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Truist Financial decreased their target price on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

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.