Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Sells 9,850 Shares of Wells Fargo & Company $WFC

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 78.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,763 shares of the financial services provider’s stock after selling 9,850 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in Wells Fargo & Company were worth $258,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $27,000. Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Finally, Core Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.1%

Shares of NYSE WFC opened at $82.06 on Monday. Wells Fargo & Company has a 1-year low of $71.93 and a 1-year high of $97.76. The company has a market cap of $251.13 billion, a PE ratio of 12.66, a P/E/G ratio of 0.96 and a beta of 0.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $79.20 and a two-hundred day moving average of $84.71.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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 was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WFC shares. KGI Securities downgraded shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. cut their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a report on Thursday, April 30th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a report on Wednesday, April 15th. Finally, Barclays cut their price target on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

More Wells Fargo & Company News

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

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.