Triglav Investments D.O.O. Sells 48,000 Shares of Wells Fargo & Company $WFC

Triglav Investments D.O.O. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 64.9% during the first quarter, HoldingsChannel reports. The fund owned 26,000 shares of the financial services provider’s stock after selling 48,000 shares during the quarter. Triglav Investments D.O.O.’s holdings in Wells Fargo & Company were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WFC. Norges Bank purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $4,512,563,000. Capital Research Global Investors lifted its holdings in Wells Fargo & Company by 4.9% during the 4th quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares in the last quarter. Legal & General Group Plc boosted its stake in Wells Fargo & Company by 0.9% in the 4th quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after purchasing an additional 188,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Wells Fargo & Company by 13.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock worth $1,922,257,000 after purchasing an additional 2,369,260 shares during the period. Finally, Boston Partners grew its holdings in Wells Fargo & Company by 5.2% during the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock valued at $895,466,000 after buying an additional 477,745 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.1%

Shares of WFC opened at $87.07 on Monday. The firm’s 50 day simple moving average is $80.67 and its 200 day simple moving average is $83.96. The company has a market capitalization of $266.46 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.00 and a beta of 0.92. 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 has a 1-year low of $72.78 and a 1-year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.39 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 6.98 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.45 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is 27.78%.

More Wells Fargo & Company News

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

• Positive Sentiment: Analysts and market commentary remain upbeat on Wells Fargo’s upcoming results, with expectations for higher net interest income and fee income to support earnings. The stock is also benefiting from a “moderate buy” consensus and renewed interest in bank earnings ahead of the reporting season.
• Positive Sentiment: Wells Fargo was cited as a bullish name in sector research, and the broader banking group is seen as positioned for solid Q2 results, which could lift financial stocks if the trend holds.
• Neutral Sentiment: Recent articles focused on Wells Fargo mostly previewed the earnings release rather than delivering new company-specific news, so investors are still waiting for a catalyst from the actual report.
• Neutral Sentiment: Broader market news was mixed but relatively calm, with futures drifting and investors waiting for inflation data and earnings season, which suggests WFC’s move is more tied to positioning than to any fresh negative headline.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WFC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Bank of America boosted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. UBS Group cut their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.34.

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.