IPG Investment Advisors LLC Has $1.87 Million Stake in Wells Fargo & Company $WFC

IPG Investment Advisors LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 685.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,029 shares of the financial services provider’s stock after acquiring an additional 17,479 shares during the quarter. IPG Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,867,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC grew its position in Wells Fargo & Company by 4.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 97,134 shares of the financial services provider’s stock valued at $9,053,000 after acquiring an additional 4,384 shares during the period. Texas Capital Bank Wealth Management Services Inc grew its position in Wells Fargo & Company by 78.5% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,139 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 3,580 shares during the period. Fidelis Capital Partners LLC grew its position in Wells Fargo & Company by 77.8% in the fourth quarter. Fidelis Capital Partners LLC now owns 71,018 shares of the financial services provider’s stock valued at $6,619,000 after acquiring an additional 31,080 shares during the period. Knights of Columbus Asset Advisors LLC grew its position in Wells Fargo & Company by 2.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 181,008 shares of the financial services provider’s stock valued at $16,870,000 after acquiring an additional 3,769 shares during the period. Finally, Flputnam Investment Management Co. grew its position in Wells Fargo & Company by 44.1% in the fourth quarter. Flputnam Investment Management Co. now owns 116,402 shares of the financial services provider’s stock valued at $10,849,000 after acquiring an additional 35,596 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company News Summary

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 grow by mid-teen percentages in the second quarter, signaling improving fee-based momentum and helping support the bank’s earnings outlook. Wells Fargo CEO sees mid-teens growth in investment banking, trading
• Positive Sentiment: Wells Fargo also highlighted mortgage incentives tied to ICON’s 3D-printed homes, showing efforts to expand lending opportunities and grow originations in niche housing markets. Wells Fargo to offer mortgage incentives on 3D printed homes with Icon
• Neutral Sentiment: The company presented at Bernstein’s Strategic Decisions Conference, which may have kept Wells Fargo in focus but did not by itself add a major new catalyst. Wells Fargo & Company (WFC) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: Several articles reiterated Wells Fargo as a dividend stock and discussed its longer-term recovery potential, but these were largely commentary pieces rather than new fundamental developments. Wells Fargo (WFC) is a Top Dividend Stock Right Now: Should You Buy?
• Negative Sentiment: Recent coverage noted that WFC shares have fallen sharply year to date and were down again after a six-day rally, suggesting investors are still wary about the stock’s near-term momentum. Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: Investor attention also remains on Wells Fargo’s still-elevated legal and regulatory overhangs, including a reported $100 million settlement tied to struggling homebuyers. Wells Fargo settlement will pay 100M to help struggling homebuyers in 51 cities

Analysts Set New Price Targets

A number of brokerages have weighed in on WFC. JPMorgan Chase & Co. lowered their price target 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. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Truist Financial lowered their price target on 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. Finally, Piper Sandler reiterated an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $76.02 on Thursday. The stock’s fifty day moving average is $79.02 and its 200-day moving average is $85.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $232.65 billion, a PE ratio of 11.73, a PEG ratio of 0.91 and a beta of 0.96. Wells Fargo & Company has a 52 week low of $71.93 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.45 dividend. The ex-dividend date 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 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.