Wells Fargo & Company $WFC Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 202,052 shares of the financial services provider’s stock after selling 10,464 shares during the quarter. Prospera Financial Services Inc’s holdings in Wells Fargo & Company were worth $18,833,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Capital Research Global Investors grew its position in Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after buying an additional 5,584,930 shares during the last quarter. Danske Bank A S acquired a new position in Wells Fargo & Company in the third quarter worth approximately $215,638,000. M&G PLC grew its position in Wells Fargo & Company by 320.3% in the third quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock worth $247,487,000 after buying an additional 2,245,307 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $173,651,000. Finally, Mawer Investment Management Ltd. acquired a new position in Wells Fargo & Company in the third quarter worth approximately $147,165,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent research reports. UBS Group restated a “buy” rating and issued a $113.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. 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. Piper Sandler reiterated an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. 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. Finally, Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $97.53.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at $7,270,933.80. This trade represents a 26.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.14% of the company’s stock.

Wells Fargo & Company Trading Up 0.8%

Shares of NYSE:WFC opened at $76.52 on Friday. The firm has a fifty day moving average of $78.92 and a two-hundred day moving average of $85.25. The firm has a market capitalization of $234.15 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. Wells Fargo & Company has a 12-month low of $71.89 and a 12-month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. On average, equities analysts expect that Wells Fargo & Company will post 6.82 EPS 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. Shareholders of record on Friday, May 8th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

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.