Wells Fargo & Company $WFC Shares Sold by Capital International Inc. CA

Capital International Inc. CA lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 28.9% in the fourth quarter, HoldingsChannel reports. The firm owned 359,570 shares of the financial services provider’s stock after selling 146,024 shares during the quarter. Capital International Inc. CA’s holdings in Wells Fargo & Company were worth $33,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $4,512,563,000. Capital Research Global Investors raised its stake in shares of Wells Fargo & Company by 18.6% during the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after purchasing an additional 5,584,930 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of Wells Fargo & Company by 177.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after purchasing an additional 3,120,399 shares in the last quarter. Danske Bank A S bought a new stake in shares of Wells Fargo & Company during the third quarter valued at about $215,638,000. Finally, M&G PLC raised its stake in shares of Wells Fargo & Company by 320.3% during the third quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock valued at $247,487,000 after purchasing an additional 2,245,307 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Key Stories Impacting Wells Fargo & Company

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Finally, HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, April 1st. Two investment 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 company’s stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $97.53.

Wells Fargo & Company Stock Up 0.5%

WFC opened at $82.06 on Friday. Wells Fargo & Company has a one year low of $71.93 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $79.20 and its 200-day moving average is $84.70. The company has a market capitalization of $251.13 billion, a PE ratio of 12.66, a P/E/G ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter in the previous year, the business earned $1.39 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 27.78%.

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.