Edgar Lomax Co. VA Has $11.82 Million Stake in Wells Fargo & Company $WFC

Edgar Lomax Co. VA reduced its position in Wells Fargo & Company (NYSE:WFC) by 22.6% during the third quarter, Holdings Channel.com reports. The firm owned 140,985 shares of the financial services provider’s stock after selling 41,135 shares during the quarter. Edgar Lomax Co. VA’s holdings in Wells Fargo & Company were worth $11,817,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after buying an additional 1,341,222 shares during the last quarter. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA lifted its position in Wells Fargo & Company by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after acquiring an additional 1,223,999 shares in the last quarter. Amundi boosted its stake in Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Wells Fargo & Company by 1.1% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 8,469,766 shares of the financial services provider’s stock valued at $678,598,000 after purchasing an additional 88,358 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $82.07 on Friday. The company’s 50-day moving average is $89.76 and its 200 day moving average is $86.51. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $253.24 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were paid a $0.45 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WFC shares. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective for the company in a research note on Friday, February 13th. Argus raised their price objective on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. HSBC reiterated a “hold” rating and issued a $74.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Wolfe Research reiterated an “outperform” rating and issued a $109.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company 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 transaction, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at $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. Over the last quarter, insiders have sold 115,000 shares of company stock worth $10,050,000. Insiders own 0.08% of the company’s stock.

Key Wells Fargo & Company News

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

• Positive Sentiment: Fed ends the 2018 enforcement order, removing a decade‑long regulatory constraint and reputational overhang that had limited management flexibility on capital returns and growth initiatives — a material structural positive for WFC going forward. Wells Fargo shakes off last Fed consent order Wells Fargo fully sheds Fed’s 2018 enforcement order
• Neutral Sentiment: Multiple outlets confirm the termination (MSN, Seeking Alpha, TMCNet), providing wide coverage but little immediate financial detail; this is a catalytic governance/regulatory development whose full capital‑allocation benefits will show up over quarters. Seeking Alpha: Fed board ends 2018 enforcement action
• Negative Sentiment: Shares slipped amid a broader market selloff tied to escalating conflict in the Middle East and higher mortgage rates (which can hurt mortgage origination volumes and bank trading sentiment); that risk‑off tone is the main reason WFC moved lower today despite the regulatory win. Yahoo Finance Market Minute: Mortgage rates tick up, Fed lifts 2018 enforcement on Wells Fargo
• Negative Sentiment: Political and crypto‑industry headlines calling out banks (social media/pundit commentary) create noise that can exacerbate short‑term sentiment swings, though they are unlikely to change fundamentals. Eric Trump attacks banks over stablecoin yields

About Wells Fargo & Company

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.