BSN CAPITAL PARTNERS Ltd Makes New $42.88 Million Investment in Wells Fargo & Company $WFC

BSN CAPITAL PARTNERS Ltd purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 460,031 shares of the financial services provider’s stock, valued at approximately $42,875,000. Wells Fargo & Company makes up about 1.9% of BSN CAPITAL PARTNERS Ltd’s investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of WFC. Private Wealth Group LLC boosted its stake in Wells Fargo & Company by 2.5% in the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 108 shares in the last quarter. Nixon Peabody Trust Co. raised its position in shares of Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares during the last quarter. Simmons Bank boosted its position in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 116 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its position in Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the last quarter. Finally, D Orazio & Associates Inc. grew its stake in Wells Fargo & Company by 3.6% during the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after buying an additional 118 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.1%

Shares of WFC opened at $82.31 on Friday. The stock’s fifty day simple moving average is $79.70 and its 200-day simple moving average is $84.59. The firm has a market capitalization of $251.89 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 6.86 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on WFC. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Piper Sandler restated an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods cut their price objective on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.24.

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.