Wells Fargo & Company $WFC Shares Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% during the fourth quarter, HoldingsChannel reports. The firm owned 537,715 shares of the financial services provider’s stock after purchasing an additional 7,100 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Wells Fargo & Company were worth $50,115,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Private Wealth Group LLC lifted its position in shares of Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. lifted its position in shares of Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank lifted its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares in the last quarter. Finally, Main Street Group LTD lifted its position in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.7%

Shares of NYSE:WFC opened at $76.65 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. The company has a fifty day simple moving average of $79.03 and a 200 day simple moving average of $84.96. The firm has a market cap of $234.57 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.89 and a beta of 0.96. Wells Fargo & Company has a 12-month low of $71.93 and a 12-month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business 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%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s payout ratio is 27.78%.

Key Wells Fargo & Company News

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

• Positive Sentiment: CEO Charlie Scharf said Wells Fargo expects investment banking and trading revenue to rise by mid-teen percentages in the second quarter, which could support fee income and help offset weakness elsewhere. Reuters article
• Positive Sentiment: At a Bernstein conference, Wells Fargo highlighted improving momentum in key businesses, reinforcing the case that ongoing operating improvements and a possible easing of regulatory constraints could support the stock over time. Seeking Alpha transcript
• Neutral Sentiment: The company is also benefiting indirectly from a broader banking backdrop in which excess cash in funding markets is boosting balance-sheet capacity at large banks, though this is more of an industry tailwind than a Wells Fargo-specific catalyst. Yahoo Finance/Bloomberg article
• Negative Sentiment: Wells Fargo warned that the recent small-cap rally may be masking weakening earnings estimates, low profitability and rising debt, a message that points to a more fragile market backdrop and may weigh on sentiment toward financials. MarketWatch article
• Negative Sentiment: Recent coverage also noted that WFC shares have been sliding year to date, reflecting investor concerns about the pace of recovery despite long-term support from digital growth, NII improvement and potential regulatory relief. Zacks article

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Truist Financial reduced their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. UBS Group reissued a “buy” rating and set a $113.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two research 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 stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price 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.