Wells Fargo & Company $WFC Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 976,913 shares of the financial services provider’s stock after selling 47,859 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $91,273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Navalign LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $27,000. Grey Fox Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $30,000. Finally, Imprint Wealth LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $31,000. 75.90% of the stock is 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: The NAHB/Wells Fargo Housing Market Index unexpectedly rose to 37 in May, signaling a modest rebound in homebuilder confidence and supporting a more constructive outlook for mortgage and housing-related banking activity. U.S. Homebuilder Confidence Unexpectedly Rebounds In May
• Positive Sentiment: Wells Fargo and Lazard moved up league tables on NextEra Energy’s $67 billion acquisition of Dominion Energy, highlighting stronger investment-banking deal activity that could support fee income. Lazard, Wells Fargo Vault Up League Tables on NextEra-Dominion Deal
• Neutral Sentiment: Wells Fargo settled a lawsuit alleging hiring and lending discrimination for $110 million, including a $100 million fund for eligible borrowers in certain low- and moderate-income areas. The agreement removes uncertainty, but it also underscores continued legal and reputational risk. Wells Fargo settles lawsuit alleging hiring, lending discrimination
• Neutral Sentiment: Bloomberg Law reported that Wells Fargo’s $110 million discrimination settlement was approved, confirming the charge but reducing litigation uncertainty going forward. Wells Fargo’s $110 Million Discrimination Settlement is Approved
• Neutral Sentiment: News about Wells Fargo’s call on Disney is not directly material to WFC’s earnings outlook, though it reflects ongoing research activity from the bank’s analysts. Disney (DIS) Still Has Significant Upside Potential, Says Wells Fargo
• Negative Sentiment: Earlier market coverage noted Wells Fargo extending losses alongside Bank of America in a weak broader financials tape, suggesting some sector pressure may still be weighing on the shares. Bank of America, Wells Fargo extend losses; Japanese firms in gainers: week’s financials wrap

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research report on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, April 1st. The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Finally, Morgan Stanley dropped their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $74.37 on Tuesday. The firm has a 50-day moving average price of $79.15 and a 200 day moving average price of $85.54. The firm has a market capitalization of $227.59 billion, a PE ratio of 11.48, a P/E/G ratio of 0.86 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.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. Wells Fargo & Company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Insider Activity at Wells Fargo & Company

In related news, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the transaction, the executive vice president owned 83,478 shares in the company, valued at $7,270,933.80. This represents a 26.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the transaction, the executive vice president owned 79,876 shares of the company’s stock, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 115,000 shares of company stock worth $10,050,000 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

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.