Wells Fargo & Company $WFC Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,926,855 shares of the financial services provider’s stock after selling 3,251,105 shares during the period. Primecap Management Co. CA’s holdings in Wells Fargo & Company were worth $1,251,169,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Access Investment Management LLC acquired a new position in Wells Fargo & Company during the second quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $27,000. Marquette Asset Management LLC boosted its position in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $30,000. Finally, Kilter Group LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $86.63 on Thursday. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The stock’s 50 day moving average price is $91.06 and its 200 day moving average price is $86.37. The firm has a market cap of $271.94 billion, a P/E ratio of 13.82, a PEG ratio of 0.92 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter last year, the business posted $1.43 earnings per share. Wells Fargo & Company’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 28.71%.

Analyst Ratings Changes

Several analysts recently commented on WFC shares. CICC Research started coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective for the company. Argus boosted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Barclays upped their price target on Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. UBS Group reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Finally, Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective for the company in a report on Friday, February 13th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

Key Wells Fargo & Company News

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

• Positive Sentiment: Sharp drop in short interest — Short interest fell ~16.7% in February to ~26.7M shares (about 0.8% of float), lowering potential downward pressure and reducing a short-squeeze risk; shorter days-to-cover (1.7) supports cleaner buy-side momentum.
• Positive Sentiment: Leadership hire for business banking — Wells Fargo named Devine to lead Business Banking, signaling focus on commercial growth and execution that can support loan and fee revenue expansion. Wells Fargo Names Devine to Lead Business Banking
• Positive Sentiment: Broker commentary and price action pickup — Market coverage noting the stock’s intraday strength draws attention and can reinforce momentum among investors. Wells Fargo (WFC) Rises Higher Than Market: Key Facts
• Neutral Sentiment: Full redemption of Series BB preferred stock — WFC will redeem all outstanding Series BB preferred shares in mid-March; this removes a small class of perpetual preferred shares (and related dividends) but uses cash and modestly alters capital structure. Wells Fargo & Company Announces Full Redemption of its Series-BB Preferred Stock
• Neutral Sentiment: Analyst activity and thematic calls — Wells Fargo analysts remain active (e.g., on Ticketmaster parent), which keeps the firm visible in research flows but is not a direct WFC fundamental change. Ticketmaster antitrust risks are easing, making its parent company’s stock a buy, says Wells Fargo
• Negative Sentiment: Relative underperformance vs. benchmarks — Coverage points out WFC has lagged the Nasdaq over the past year, a potential concern for momentum investors and a reason some funds may underweight the stock. Is Wells Fargo Stock Underperforming the Nasdaq?
• Negative Sentiment: Peer moves and market-cap ranking — HSBC beating and raising guidance highlights competitive pressure in global banking and briefly pushed HSBC ahead of Wells Fargo by market cap, a reminder of relative performance risks. HSBC reports a beat and a raise as it leapfrogs Wells Fargo by market cap

Insiders Place Their Bets

In other Wells Fargo & Company news, 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 value of $2,193,000.00. Following the transaction, the executive vice president directly owned 79,876 shares in the company, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

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.