12,570 Shares in Wells Fargo & Company $WFC Acquired by Greenspring Advisors LLC

Greenspring Advisors LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 12,570 shares of the financial services provider’s stock, valued at approximately $1,172,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. North Berkeley Wealth Management LLC increased its holdings in Wells Fargo & Company by 8.7% in the 4th quarter. North Berkeley Wealth Management LLC now owns 4,567 shares of the financial services provider’s stock worth $426,000 after buying an additional 365 shares during the period. REAP Financial Group LLC increased its holdings in Wells Fargo & Company by 9.6% in the 4th quarter. REAP Financial Group LLC now owns 1,694 shares of the financial services provider’s stock worth $158,000 after buying an additional 148 shares during the period. WCG Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 158.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 98,227 shares of the financial services provider’s stock worth $9,155,000 after buying an additional 60,206 shares during the period. Goldstein Advisors LLC increased its holdings in Wells Fargo & Company by 8.6% in the 4th quarter. Goldstein Advisors LLC now owns 3,041 shares of the financial services provider’s stock worth $283,000 after buying an additional 240 shares during the period. Finally, Avestar Capital LLC increased its holdings in Wells Fargo & Company by 0.4% in the 4th quarter. Avestar Capital LLC now owns 39,822 shares of the financial services provider’s stock worth $3,711,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Bank of America said Wells Fargo may now be an attractive buying opportunity, noting the stock has fallen more sharply than its underlying fundamentals and now looks cheap relative to peers. Wells Fargo shares at attractive entry point amid execution concerns
• Neutral Sentiment: Wells Fargo is using recent publicity to highlight its consumer and housing franchise, including a new survey showing many first-time homebuyers lack mortgage knowledge. This is more of a brand and engagement story than a direct earnings catalyst. Are You Ready to Buy a Home? Wells Fargo Finds Most Prospective First-Time Buyers Aren’t and Don’t Know It
• Neutral Sentiment: Wells Fargo also announced that CFO Mike Santomassimo will present at the Morgan Stanley U.S. Financials Conference on June 9, which could provide fresh commentary on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference
• Negative Sentiment: Investor attention is still being weighed down by concerns around Wells Fargo’s execution and the lingering fallout from product-transition issues tied to Bilt’s move away from Wells Fargo as a banking partner, which has prompted CFPB involvement. CFPB Meets With Bilt Following Credit Card Switchover Issues

Wall Street Analyst Weigh In

WFC has been the topic of several research reports. HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, April 1st. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Finally, UBS Group reaffirmed a “buy” rating and set a $113.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.53.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $78.72 on Thursday. The stock has a market capitalization of $240.90 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.93 and a beta of 0.93. Wells Fargo & Company has a 12 month low of $71.93 and a 12 month high of $97.76. The firm’s 50 day simple moving average is $79.12 and its 200-day simple moving average is $84.75. 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 released its quarterly 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. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter last year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

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.