12,012 Shares in Wells Fargo & Company $WFC Bought by Themes Management Co LLC

Themes Management Co LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,012 shares of the financial services provider’s stock, valued at approximately $1,120,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC grew its stake in Wells Fargo & Company by 67.4% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 586 shares of the financial services provider’s stock worth $55,000 after buying an additional 236 shares during the last quarter. GatePass Capital LLC grew its stake in shares of Wells Fargo & Company by 19.7% in the fourth quarter. GatePass Capital LLC now owns 13,536 shares of the financial services provider’s stock worth $1,262,000 after purchasing an additional 2,227 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Wells Fargo & Company by 5.4% in the fourth quarter. Harbour Investments Inc. now owns 31,821 shares of the financial services provider’s stock worth $2,966,000 after purchasing an additional 1,642 shares in the last quarter. Allstate Corp lifted its holdings in Wells Fargo & Company by 108.4% in the fourth quarter. Allstate Corp now owns 245,141 shares of the financial services provider’s stock worth $22,847,000 after purchasing an additional 127,532 shares during the period. Finally, MSH Capital Advisors LLC lifted its holdings in Wells Fargo & Company by 5.2% in the fourth quarter. MSH Capital Advisors LLC now owns 7,481 shares of the financial services provider’s stock worth $697,000 after purchasing an additional 367 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WFC shares. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Truist Financial reduced their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Wednesday, April 1st. Finally, Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.53.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $76.52 on Tuesday. Wells Fargo & Company has a 52 week low of $71.89 and a 52 week high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The stock has a market cap of $234.15 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. The company’s 50-day moving average price is $78.95 and its two-hundred day moving average price is $85.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued 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 is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

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.