Wells Fargo & Company $WFC Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,980,647 shares of the financial services provider’s stock after selling 236,732 shares during the period. Wells Fargo & Company comprises approximately 2.8% of Pzena Investment Management LLC’s holdings, making the stock its 13th largest position. Pzena Investment Management LLC’s holdings in Wells Fargo & Company were worth $930,196,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at about $27,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $28,000. Grey Fox Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $30,000. Finally, Imprint Wealth LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. HSBC raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, April 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & Company Trading Up 0.1%

Shares of Wells Fargo & Company stock opened at $75.90 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 1 year low of $71.89 and a 1 year high of $97.76. The company has a market capitalization of $232.27 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.89 and a beta of 0.96. The business has a 50 day moving average price of $78.92 and a 200 day moving average price of $85.31.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was 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 in the company, valued at $14,813,950.40. The trade was 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 Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company’s stock, valued at $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.14% of the company’s stock.

Key Wells Fargo & Company News

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

• Positive Sentiment: Analysts highlighted Wells Fargo’s cost-cutting efforts and improving efficiency metrics, saying they could help the bank move closer to its 17%-18% ROTCE target, which supports the long-term earnings story. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street’s read on the $110 million discrimination settlement was constructive, with analysts still favoring the stock and insiders reportedly buying into the news, suggesting the legal issue may be more manageable than feared. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Positive Sentiment: Another market note said Wells Fargo has received an average brokerage recommendation of “Moderate Buy,” reinforcing the idea that sentiment remains favorable despite recent headlines. Wells Fargo & Company (NYSE:WFC) Given Average Recommendation of “Moderate Buy” by Brokerages
• Neutral Sentiment: Wells Fargo agreed to create a $100 million mortgage assistance fund as part of a discrimination lawsuit settlement, which removes some legal uncertainty but also underscores ongoing reputational and compliance costs. Wells Fargo Settlement Fund Reshapes Legal Overhang And Mortgage Growth Story
• Neutral Sentiment: Wells Fargo also trimmed Meta Platforms’ price target slightly while keeping an Overweight rating, a reminder that the bank’s research franchise remains active but this item is not directly tied to WFC’s own fundamentals. Wells Fargo Trims Meta Platforms Price Target to $765: Why the AI Infrastructure Bet Still Has Believers

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.