Letko Brosseau & Associates Inc. Cuts Stock Holdings in Wells Fargo & Company $WFC

Letko Brosseau & Associates Inc. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 577,544 shares of the financial services provider’s stock after selling 103,950 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Wells Fargo & Company were worth $53,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Navalign LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Joseph Group Capital Management purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $28,000. Core Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the third quarter worth approximately $27,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo’s CFO said the bank expects net interest income to rise this quarter and reaffirmed its full-year target of about $50 billion, which supports the case for stronger core profitability as loan growth improves. Reuters article
• Positive Sentiment: Management also signaled mid-teens growth in its markets business for the second quarter and reiterated its NII guidance, reinforcing investor confidence that Wells Fargo can deliver stable revenue momentum. MSN/Reuters article
• Positive Sentiment: Analysts continue to view WFC favorably, with one Bank of America Securities note reiterating a Buy rating and an unchanged $95 price target, suggesting attractive risk-reward if earnings execution holds. TipRanks article
• Neutral Sentiment: Wells Fargo also highlighted support for community investment, including a $1.2 million grant to Urban Strategies Inc. for economic mobility and entrepreneurship initiatives, which is positive for reputation but likely limited in near-term stock impact. Yahoo Finance article
• Neutral Sentiment: Wells Fargo presented at the Morgan Stanley US Financials Conference, where investors typically look for updates on strategy and performance, but no major new surprise was highlighted in the headline. Seeking Alpha transcript
• Negative Sentiment: Some recent coverage noted WFC stock underperformed the broader market on Monday, and insider selling headlines may reinforce caution among traders in the short term. MarketWatch article

Analyst Ratings Changes

Several brokerages recently issued reports on WFC. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Barclays dropped their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two equities research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.53.

Wells Fargo & Company Trading Up 1.3%

Shares of Wells Fargo & Company stock opened at $81.99 on Wednesday. The company’s fifty day simple moving average is $79.33 and its 200-day simple moving average is $84.68. The stock has a market capitalization of $250.90 billion, a PE ratio of 12.65, a P/E/G ratio of 0.95 and a beta of 0.93. Wells Fargo & Company has a 1-year low of $71.93 and a 1-year 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.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

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.