Wells Fargo & Company $WFC Shares Bought by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 33.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 93,818 shares of the financial services provider’s stock after purchasing an additional 23,572 shares during the period. Banque Cantonale Vaudoise’s holdings in Wells Fargo & Company were worth $8,744,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Navalign LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $27,000. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WFC shares. Barclays decreased their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Keefe, Bruyette & Woods reduced their target price on shares of 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. Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research note on Friday, February 13th. Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Finally, HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, April 1st. Two equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their position. The transaction 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 dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company’s stock, valued at $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 115,000 shares of company stock worth $10,050,000. Insiders own 0.14% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $74.55 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $228.12 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.87 and a beta of 0.96. The firm’s 50-day moving average is $79.03 and its two-hundred day moving average is $85.46. Wells Fargo & Company has a 12 month low of $71.89 and a 12 month high of $97.76.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo will present at the Bernstein Strategic Decisions Conference on May 27, keeping management visible to investors and potentially reinforcing the bank’s strategy and outlook. Wells Fargo to Present at the Bernstein Strategic Decisions Conference
• Positive Sentiment: The NAHB/Wells Fargo Housing Market Index unexpectedly rose to 37 in May from 34 in April, a sign that homebuilder sentiment is improving and could support loan demand in the housing market. U.S. Homebuilder Confidence Unexpectedly Rebounds In May
• Positive Sentiment: Wells Fargo and other banks moved up league tables after helping arrange NextEra Energy’s $67 billion deal for Dominion Energy, highlighting stronger investment-banking activity. Lazard, Wells Fargo Vault Up League Tables on NextEra-Dominion Deal
• Neutral Sentiment: One article noted Wells Fargo’s preferred shares offer a discounted yield opportunity with interest-rate optionality, which is more of an investor commentary piece than a direct company catalyst. Wells Fargo Long Duration Preferred: Safe Yield, Discount To Par, And Interest Rate Optionality
• Negative Sentiment: Wells Fargo agreed to a $110 million settlement over lending and hiring discrimination claims, including a $100 million borrower-assistance fund, which may weigh on sentiment despite removing legal uncertainty. Wells Fargo agrees to $110M lending, hiring discrimination settlement

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.