Davis Selected Advisers Trims Stock Holdings in Wells Fargo & Company $WFC

Davis Selected Advisers lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,786,052 shares of the financial services provider’s stock after selling 390,371 shares during the quarter. Wells Fargo & Company comprises about 3.4% of Davis Selected Advisers’ portfolio, making the stock its 12th largest position. Davis Selected Advisers owned about 0.25% of Wells Fargo & Company worth $652,627,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WFC. Redmont Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth about $27,000. Marquette Asset Management LLC boosted its position in Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the third quarter valued at approximately $30,000. Kilter Group LLC acquired a new position in Wells Fargo & Company in the 2nd quarter worth approximately $31,000. Finally, Imprint Wealth LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $76.11 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $234.86 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.83 and a beta of 1.08. The firm’s 50 day simple moving average is $86.54 and its 200-day simple moving average is $86.37. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a report on Friday, February 13th. Argus boosted their target price on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. UBS Group reaffirmed a “buy” rating and issued a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wells Fargo launched a nationwide Housing Affordability Breakthrough Challenge, committing $10 million in grants, technical assistance and mentorship to scalable housing solutions — a reputational and community-investment play that supports franchise goodwill and potential future lending/partnership opportunities. Wells Fargo Launches National Challenge to Uncover Innovative Housing Solutions (Yahoo)
• Positive Sentiment: Wells Fargo’s FiNet channel recruited advisory teams that bring roughly $1.2B in client assets, directly boosting fee revenue and AUM growth in its independent advisory distribution. Wells Fargo’s FiNet Recruits Advisory Teams from UBS, Commonwealth, and Stifel (Yahoo)
• Positive Sentiment: Analysis pieces highlight Wells Fargo’s capital-return strategy and liquidity strength, suggesting the bank may be positioned to sustain dividends and buybacks — a constructive view for income-oriented investors. Is Wells Fargo Well-Positioned to Sustain Its Capital Return Strategy? (Zacks)
• Neutral Sentiment: Wells Fargo filed a trademark for “WFUSD,” hinting at a potential stablecoin initiative that could expand payments and digital-asset services; this is strategic upside but carries regulatory and execution risk. Wells Fargo WFUSD Stablecoin Filing Meets Weak Share Momentum And Valuation (Yahoo)
• Neutral Sentiment: The company designated a new Series GG preferred stock (announcement March 16), a capital-management tool that could be used to optimize funding; impact depends on whether and how much is issued. Wells Fargo Establishes New Series GG Preferred Stock (TipRanks)
• Neutral Sentiment: A former Wells Fargo executive is leading EOS Investors’ new hotel credit strategy — a reminder of talent mobility from the bank but with limited direct impact on WFC’s fundamentals. EOS Investors Launches Hotel Credit Strategy Led by Former Wells Fargo Executive (Yahoo)
• Negative Sentiment: Truist cut its WFC price target from $98 to $94 (while keeping a Buy), trimming upside and reflecting a slightly more cautious view that can pressure sentiment. Truist Lowers PT on Wells Fargo (Benzinga/StreetInsider)
• Negative Sentiment: Sector commentary notes bank stocks acting as a signal for private-credit stress; broader private-credit concerns and any spillovers could weigh on Wells Fargo’s valuation and risk premium. Bank Stocks Are the Canary in the Recession Coal Mine (Barron’s)

Insider Transactions at Wells Fargo & Company

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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock valued at $10,050,000 in the last ninety days. 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.