ABN Amro Investment Solutions Increases Stock Position in Wells Fargo & Company $WFC

ABN Amro Investment Solutions grew its position in Wells Fargo & Company (NYSE:WFC) by 176.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 221,278 shares of the financial services provider’s stock after purchasing an additional 141,330 shares during the period. ABN Amro Investment Solutions’ holdings in Wells Fargo & Company were worth $20,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the period. Jump Financial LLC grew its position in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after buying an additional 2,615 shares during the period. Main Street Financial Solutions LLC grew its position in Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 7,368 shares during the period. Vivaldi Capital Management LP grew its position in Wells Fargo & Company by 5.4% during the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after buying an additional 165 shares during the period. Finally, Diversify Advisory Services LLC grew its position in Wells Fargo & Company by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after buying an additional 8,714 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WFC shares. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Truist Financial cut their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Friday, February 13th. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 169,496 shares of the company’s stock, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. This represents a 23.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 115,000 shares of company stock valued at $10,050,000 over the last three months. 0.14% of the stock is owned by corporate insiders.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo agreed to a $110 million settlement tied to lending and hiring discrimination claims, and the court framed the borrower assistance fund as a step toward expanding equitable access to financial services. The removal of a legal overhang could be viewed as positive for sentiment. Wells Fargo agrees to $110M lending, hiring discrimination settlement
• Neutral Sentiment: Wells Fargo is also getting attention from brokers and news readers, with recent coverage noting the stock has a “Moderate Buy” consensus and strong investor interest, which supports ongoing trading activity but does not materially change the fundamental story. Wells Fargo & Company (NYSE:WFC) Given Average Recommendation of “Moderate Buy” by Brokerages
• Neutral Sentiment: The company also announced that CEO Charlie Scharf will present at the Bernstein Strategic Decisions Conference on May 27, keeping Wells Fargo in the spotlight and potentially giving management a venue to discuss strategy, but this is more of a near-term event than a direct catalyst. Wells Fargo to Present at the Bernstein Strategic Decisions Conference
• Negative Sentiment: The settlement news also highlights that Wells Fargo continues to work through legacy legal and regulatory issues, which can weigh on investor confidence even when the financial cost is manageable.
• Negative Sentiment: One analyst note today trimmed Meta Platforms’ price target from Wells Fargo’s research desk, but that update is about Meta rather than Wells Fargo stock itself and is unlikely to be a direct driver for WFC.

Wells Fargo & Company Trading Up 1.8%

Shares of Wells Fargo & Company stock opened at $75.88 on Thursday. Wells Fargo & Company has a 12-month low of $71.89 and a 12-month high of $97.76. The company has a market cap of $232.22 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.88 and a beta of 0.96. 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’s 50-day moving average price is $78.97 and its 200-day moving average price is $85.39.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. On average, equities analysts expect 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

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.