Wells Fargo & Company $WFC Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 42.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 53,214 shares of the financial services provider’s stock after acquiring an additional 15,730 shares during the period. Legato Capital Management LLC’s holdings in Wells Fargo & Company were worth $4,960,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WFC. Capital Research Global Investors raised its position in shares of Wells Fargo & Company by 18.6% in the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after buying an additional 5,584,930 shares during the period. Legal & General Group Plc raised its position in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock worth $1,760,994,000 after buying an additional 399,088 shares during the period. Boston Partners raised its position in shares of Wells Fargo & Company by 1.9% in the 3rd quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock worth $763,675,000 after buying an additional 174,350 shares during the period. Davis Selected Advisers raised its position in shares of Wells Fargo & Company by 6.1% in the 4th quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock worth $769,649,000 after buying an additional 471,979 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Wells Fargo & Company by 8.5% in the 3rd quarter. California Public Employees Retirement System now owns 6,726,087 shares of the financial services provider’s stock worth $563,781,000 after buying an additional 529,305 shares during the period. Institutional investors and hedge funds 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: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Wells Fargo & Company Trading Up 0.8%

NYSE:WFC opened at $76.52 on Friday. The business’s 50-day moving average is $78.92 and its two-hundred day moving average is $85.25. 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 12 month low of $71.89 and a 12 month high of $97.76. The firm has a market capitalization of $234.15 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.89 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating 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 company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Insider Activity

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction dated 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 directly owned 83,478 shares of the company’s stock, valued at $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value 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. This trade represents a 26.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price on the stock in a research report on Friday, February 13th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of 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. Two analysts have 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, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & Company 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.