Sirios Capital Management L P Cuts Position in Wells Fargo & Company $WFC

Sirios Capital Management L P decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 384,031 shares of the financial services provider’s stock after selling 16,811 shares during the quarter. Wells Fargo & Company comprises about 4.2% of Sirios Capital Management L P’s investment portfolio, making the stock its 3rd largest holding. Sirios Capital Management L P’s holdings in Wells Fargo & Company were worth $32,189,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WFC. Hilton Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $3,656,000. Mawer Investment Management Ltd. acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $147,165,000. Guerra Advisors Inc boosted its position in shares of Wells Fargo & Company by 43.2% during the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock worth $3,222,000 after buying an additional 11,594 shares during the period. AlphaQuest LLC grew its holdings in Wells Fargo & Company by 1,121.0% in the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock worth $2,018,000 after buying an additional 22,107 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Wells Fargo & Company by 52.7% in the 3rd quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider’s stock worth $11,639,000 after buying an additional 47,946 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $74.11 on Friday. The company has a market capitalization of $228.67 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The business has a 50 day moving average price of $87.72 and a two-hundred day moving average price of $86.47.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same period last year, the company posted $1.43 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were issued a $0.45 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: Technically deeply oversold and analyst support could spark a relief bounce — MarketBeat notes WFC is trading well below recent highs, its RSI is in oversold territory, and several outlets/analysts maintain Outperform/Buy ratings and high price targets that imply significant upside if sentiment stabilizes. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Positive Sentiment: Strategic optionality in digital assets — filings show Wells Fargo has applied for a WFUSD trademark covering stablecoins and blockchain payment services, signaling a possible future new revenue stream (still speculative and regulatory-dependent). Wells Fargo Submits WFUSD Trademark Application
• Neutral Sentiment: Active analyst research flow — Wells Fargo analysts continue to move ratings/targets across sectors (cuts on Aptiv, upgrades in chemicals, positive calls on travel and retail names). This shows robust research activity that can influence trading in other names but is not directly catalytic for WFC’s fundamentals. Wells Fargo Cuts Aptiv Price Target Wells Fargo Upgrades Chemical Stocks
• Negative Sentiment: Earnings, revenue and operational concerns remain — MarketBeat highlights that WFC missed revenue/earnings expectations in January, has a relatively high efficiency ratio vs. peers, and saw headline risk from reported exposure to the failed U.K. mortgage finance firm Market Financial Solutions; those issues help explain selling pressure and could limit near-term multiple expansion. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of the business’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 sale, the executive vice president directly owned 169,496 shares in the company, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,000 shares of company stock valued at $10,050,000 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on WFC. CICC Research assumed coverage on Wells Fargo & Company in a research note on Wednesday, January 14th. They set a “market perform” rating and a $96.00 target price on the stock. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Barclays raised their price target on Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Finally, Freedom Capital downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

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.