Wells Fargo & Company $WFC Shares Bought by Todd Asset Management LLC

Todd Asset Management LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 297,601 shares of the financial services provider’s stock after acquiring an additional 6,921 shares during the period. Todd Asset Management LLC’s holdings in Wells Fargo & Company were worth $27,736,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in shares of Wells Fargo & Company by 18.6% in the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after acquiring an additional 5,584,930 shares during the period. Legal & General Group Plc boosted its position in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock worth $1,760,994,000 after purchasing an additional 399,088 shares in the last quarter. Boston Partners boosted its position in shares of Wells Fargo & Company by 1.9% during the 3rd quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock worth $763,675,000 after purchasing an additional 174,350 shares in the last quarter. Davis Selected Advisers grew its stake in shares of Wells Fargo & Company by 6.1% during the 4th quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock worth $769,649,000 after purchasing an additional 471,979 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Wells Fargo & Company by 8.5% during the 3rd quarter. California Public Employees Retirement System now owns 6,726,087 shares of the financial services provider’s stock worth $563,781,000 after purchasing an additional 529,305 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.2%

NYSE:WFC opened at $76.52 on Monday. The company has a market capitalization 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 has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a 52-week low of $71.89 and a 52-week high of $97.76. The stock has a fifty day simple moving average of $78.92 and a 200-day simple moving average of $85.24.

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, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is 27.78%.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Insider Activity at Wells Fargo & Company

In other news, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were 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 $14,813,950.40. This trade represents a 26.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WFC. JPMorgan Chase & Co. lowered their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Barclays lowered their price target on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note 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. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 15th. Two 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 has an average rating of “Moderate Buy” and an average target price of $97.53.

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.