QRG Capital Management Inc. Sells 336,581 Shares of Wells Fargo & Company $WFC

QRG Capital Management Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 41.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,628 shares of the financial services provider’s stock after selling 336,581 shares during the quarter. QRG Capital Management Inc.’s holdings in Wells Fargo & Company were worth $40,454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Evergreen Capital Management LLC grew its position in shares of Wells Fargo & Company by 13.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 33,997 shares of the financial services provider’s stock worth $2,850,000 after buying an additional 3,959 shares in the last quarter. Phoenix Wealth Advisors purchased a new stake in Wells Fargo & Company in the third quarter worth about $246,000. Confluence Wealth Services Inc. increased its position in Wells Fargo & Company by 2.0% during the 3rd quarter. Confluence Wealth Services Inc. now owns 7,233 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 143 shares during the period. First National Advisers LLC increased its position in Wells Fargo & Company by 1.7% during the 3rd quarter. First National Advisers LLC now owns 64,334 shares of the financial services provider’s stock valued at $5,393,000 after purchasing an additional 1,084 shares during the period. Finally, Vectors Research Management LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $1,367,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several research reports. Evercore ISI cut their price objective on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. HSBC reissued a “hold” rating and set a $74.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $90.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.87.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $88.36 on Friday. The stock has a market capitalization of $277.37 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $90.17 and its 200-day moving average price is $84.81.

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

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: Asset?cap lift enabling growth — management is ramping lending and growth initiatives now that the Fed’s asset cap is gone, which supports higher future loan volumes and revenue potential. Freed from Asset Cap, Wells Fargo Ramps up Lending
• Positive Sentiment: Q4 EPS beat — Wells Fargo reported EPS above consensus (helping underlying profitability) even as revenue missed estimates; management flagged improving core profitability and stronger wealth results. Wells Fargo posts earnings beat but revenue misses expectations
• Positive Sentiment: Insider/insider?adjacent buying — a disclosed purchase by Sen. John Boozman was reported, which some investors view as a modest signal of confidence. Sen. John Boozman Buys Wells Fargo & Company Shares
• Neutral Sentiment: Analyst reactions are mixed — several firms revised price targets and ratings after Q4 (some trims, some raises); consensus remains around a “hold”/modest upside, creating balanced near?term analyst flow rather than a uniform boost. These Analysts Revise Their Forecasts On Wells Fargo Following Q4 Earnings
• Neutral Sentiment: New coverage and broader industry commentary — CICC initiated coverage and major outlets highlighted sector?wide strength in trading and wealth, which could support longer?term estimates but doesn’t remove near?term uncertainty. Wells Fargo Coverage Initiated at CICC Research
• Negative Sentiment: Revenue missed and severance dragged on profits — commentary and reporting pointed to material severance and restructuring charges that pressured reported profit and prompted concern about near?term earnings quality. Wells Fargo misses profit estimates on severance costs, shares fall
• Negative Sentiment: Sector and policy overhang — bank stocks broadly pulled back after earnings, and proposals to cap credit?card rates have emerged as a regulatory risk that could hit consumer finance revenue if enacted. Bank Stocks Get Punished After Earnings—Is Valuation the Real Problem?
• Negative Sentiment: Housing sentiment softens — the NAHB/Wells Fargo Housing Market Index fell unexpectedly in January, a modest negative for mortgage origination outlooks and related loan growth. U.S. Homebuilder Confidence Unexpectedly Deteriorates In January

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.