Groupama Asset Managment Grows Holdings in Wells Fargo & Company $WFC

Groupama Asset Managment raised its stake in Wells Fargo & Company (NYSE:WFC) by 15.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 146,979 shares of the financial services provider’s stock after purchasing an additional 19,712 shares during the quarter. Groupama Asset Managment’s holdings in Wells Fargo & Company were worth $13,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Diversified Trust Co. lifted its stake in Wells Fargo & Company by 59.7% during the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock worth $3,289,000 after purchasing an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wells Fargo & Company by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock valued at $49,610,000 after purchasing an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after purchasing an additional 14,168 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Wells Fargo & Company by 4.2% during the 3rd quarter. Natixis Advisors LLC now owns 3,482,885 shares of the financial services provider’s stock valued at $291,935,000 after buying an additional 139,659 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after buying an additional 17,302 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on WFC shares. Truist Financial reduced their price target 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. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Morgan Stanley cut their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.24.

Wells Fargo & Company Trading Down 1.8%

Shares of WFC stock opened at $82.31 on Friday. The stock has a market capitalization of $251.89 billion, a PE ratio of 12.70, a P/E/G ratio of 0.98 and a beta of 0.93. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The business has a 50-day moving average of $79.75 and a 200 day moving average of $84.60. 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 (NYSE:WFC) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 6.86 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
• Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
• Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
• Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
• Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets

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.