Perbak Capital Partners LLP Raises Position in Wells Fargo & Company $WFC

Perbak Capital Partners LLP boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 142.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,015 shares of the financial services provider’s stock after purchasing an additional 8,816 shares during the period. Perbak Capital Partners LLP’s holdings in Wells Fargo & Company were worth $1,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFC. Norges Bank purchased a new position in shares of Wells Fargo & Company in the second quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA boosted its holdings in Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after acquiring an additional 5,894,747 shares during the period. Capital Research Global Investors boosted its holdings in Wells Fargo & Company by 18.6% during 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 acquiring an additional 5,584,930 shares during the period. M&G PLC grew its position in Wells Fargo & Company by 320.3% during the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock worth $247,487,000 after acquiring an additional 2,245,307 shares during the last quarter. Finally, Amundi grew its position in Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after acquiring an additional 2,180,693 shares during the last quarter. 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: 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

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $74.11 on Friday. 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 has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The firm has a market cap of $228.67 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.82 and a beta of 1.08. The business’s 50 day moving average price is $87.72 and its 200-day moving average price is $86.47.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter in the prior year, the company earned $1.43 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. TD Cowen decreased their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, January 15th. Truist Financial lowered their price target on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Finally, Barclays increased their price target on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Insiders Place Their Bets

In other news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 115,000 shares of company stock worth $10,050,000. 0.08% of the stock is currently owned by corporate insiders.

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.