Capital Research Global Investors Increases Stock Position in Wells Fargo & Company $WFC

Capital Research Global Investors lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,421,387 shares of the financial services provider’s stock after acquiring an additional 1,760,484 shares during the period. Capital Research Global Investors’ holdings in Wells Fargo & Company were worth $3,487,687,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $27,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $82.06 on Friday. Wells Fargo & Company has a 1-year low of $71.93 and a 1-year high of $97.76. The company has a market capitalization of $251.13 billion, a P/E ratio of 12.66, a PEG ratio of 0.96 and a beta of 0.93. The business has a 50 day moving average price of $79.20 and a 200 day moving average price of $84.70. 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 released 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 firm had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. Sell-side analysts expect that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Key Wells Fargo & Company News

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

• Positive Sentiment: Analysts remain constructive on Wells Fargo after management offered a strong outlook, with coverage showing a majority Buy rating and implied upside to the shares. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Wells Fargo is also part of a planned shared tokenized deposit network led by The Clearing House, suggesting the bank is positioning itself for faster, blockchain-based payments and a new growth avenue. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Coverage noting that Wells Fargo is a trending stock points to heightened investor attention, but it does not add new fundamentals by itself. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo’s role in the tokenized-deposit network was reiterated in separate reports, reinforcing the strategic theme rather than signaling an immediate financial impact. Tokenized Deposits Set Up Banking’s Next Network Race

Wall Street Analyst Weigh In

A number of analysts have weighed in on WFC shares. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Jefferies Financial Group assumed coverage on Wells Fargo & Company in a report on Thursday, March 26th. They issued a “buy” rating and a $100.00 price target for the company. KGI Securities cut Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Barclays reduced their price target on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $97.53.

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.