Quent Long Short Global Small Cap Fund LP Invests $1.32 Million in Wells Fargo & Company $WFC

Quent Long Short Global Small Cap Fund LP acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 14,181 shares of the financial services provider’s stock, valued at approximately $1,322,000.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Advisory LLC raised its stake in shares of Wells Fargo & Company by 2.2% in the fourth quarter. Cornerstone Advisory LLC now owns 7,764 shares of the financial services provider’s stock valued at $724,000 after acquiring an additional 164 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 33.4% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 18,639 shares of the financial services provider’s stock valued at $1,737,000 after acquiring an additional 4,666 shares in the last quarter. waypoint wealth counsel raised its stake in shares of Wells Fargo & Company by 9.9% in the fourth quarter. waypoint wealth counsel now owns 2,746 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 247 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its holdings in Wells Fargo & Company by 9.5% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 194,416 shares of the financial services provider’s stock valued at $18,181,000 after acquiring an additional 16,829 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Wells Fargo & Company by 14.0% in the fourth quarter. Teacher Retirement System of Texas now owns 1,208,781 shares of the financial services provider’s stock valued at $112,658,000 after acquiring an additional 148,317 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Regulatory overhang easing — Wells Fargo highlighted the closure of a final regulatory milestone, which could reduce uncertainty and support multiple expansion if confirmed by markets. How Investors May Respond To Wells Fargo (WFC) Earnings Miss, Bond Issuance And Regulatory Milestone
• Positive Sentiment: Rate-driven earnings lift — Wells Fargo reported higher net interest income and a year-over-year rise in net income; the broader bank-earnings beat in Q1 has given the financials group a lift. Big Bank Earnings Gave Financials a Lift, But Wall Street Is Still Cautious (WFC)
• Neutral Sentiment: Dividend and investor appeal — recent coverage is re-evaluating WFC as a potential high-yield / growth dividend pick; this may support longer-term income-focused demand but isn’t an immediate catalyst. Are You Looking for a High-Growth Dividend Stock?
• Negative Sentiment: Debt issuance and revenue miss — the bank issued multiple callable senior unsecured notes maturing 2030–2041 and posted revenue below consensus, which can raise funding costs/concerns about growth execution. How Investors May Respond To Wells Fargo (WFC) Earnings Miss, Bond Issuance And Regulatory Milestone
• Negative Sentiment: Credit pressure and governance friction — Wells Fargo recorded roughly $1.106B of net charge-offs in the quarter and pushed shareholders to oppose several governance/ESG proposals, both of which could weigh on sentiment and attract scrutiny. How Investors May Respond To Wells Fargo (WFC) Earnings Miss, Bond Issuance And Regulatory Milestone

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFC. TD Cowen reduced their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. UBS Group reaffirmed a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Truist Financial cut their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, Argus lifted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. One research analyst has 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 MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $97.75.

Insider Transactions at Wells Fargo & Company

In other news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the sale, the executive vice president owned 79,876 shares in the company, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 115,000 shares of company stock worth $10,050,000. Corporate insiders own 0.14% of the company’s stock.

Wells Fargo & Company Stock Down 0.1%

WFC stock opened at $80.49 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a twelve month low of $67.50 and a twelve month high of $97.76. The company’s 50 day moving average is $81.49 and its two-hundred day moving average is $86.10. The stock has a market cap of $248.37 billion, a P/E ratio of 12.42, a PEG ratio of 0.95 and a beta of 1.06.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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 $21.45 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. 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.