Elo Mutual Pension Insurance Co Grows Position in Wells Fargo & Company $WFC

Elo Mutual Pension Insurance Co lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.0% in the third quarter, Holdings Channel reports. The firm owned 145,755 shares of the financial services provider’s stock after purchasing an additional 14,469 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Wells Fargo & Company were worth $12,217,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC lifted its holdings in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in Wells Fargo & Company by 4.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 3,572 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 166 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Wells Fargo & Company by 4.4% in the second quarter. Lifeworks Advisors LLC now owns 3,430 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 145 shares during the period. Hills Bank & Trust Co lifted its holdings in Wells Fargo & Company by 3.7% in the 2nd quarter. Hills Bank & Trust Co now owns 14,300 shares of the financial services provider’s stock worth $1,146,000 after buying an additional 505 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its position in Wells Fargo & Company by 0.5% in the 2nd quarter. Plato Investment Management Ltd now owns 71,929 shares of the financial services provider’s stock valued at $5,742,000 after buying an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 5.8%

WFC stock opened at $81.33 on Monday. The company has a market capitalization of $250.96 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The firm’s 50-day moving average is $90.72 and its two-hundred day moving average is $86.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.71%.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Kleber Santos sold 25,000 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 115,000 shares of company stock valued at $10,050,000. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WFC shares. Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Barclays upped their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Wells Fargo & Company in a report on Thursday, January 15th. Finally, Truist Financial lowered their price objective on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Key Wells Fargo & Company News

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

• Positive Sentiment: Analyst / internal commentary: Wells Fargo credit analyst Mike Mayo expressed confidence that the firm’s de?risking in financials is supporting stronger credit trends—this is constructive for loan quality and loss provisions and can ease investor concerns about credit risk. Wells Fargo’s Mike Mayo feels good about de-risking in financials supporting stronger credit
• Neutral Sentiment: Macro/rate context: Coverage pieces on how further Fed rate cuts could affect Wells Fargo note mixed implications—lower rates can pressure net interest income but the stock also has moderately bullish analyst coverage and hedge?fund interest. Monitor rate?cut expectations and NII guidance for near?term impact. What Do Further Rate Cuts Mean for Wells Fargo & Company (WFC)
• Negative Sentiment: Sector pressure: A broader article reports bank and brokerage stocks suffered one of their worst days in months as investors price in potential AI?driven disruption and other headwinds—this broad negative sentiment toward financials likely amplified selling in WFC. Bank, Brokerage Stocks Suffer Their Worst Day in Months. Here’s Why.
• Negative Sentiment: Insider selling — EVP Bridget E. Engle sold 30,000 WFC shares at an average $87.10 (?$2.61M); her post?sale holding fell ~26% — large, disclosed insider sales can weigh on sentiment even if they’re for personal reasons. Bridget E. Engle Form 4
• Negative Sentiment: Insider selling — EVP Ellen R. Patterson sold 60,000 WFC shares at an average $87.40 (?$5.24M); her post?sale holding declined ~26% — another large, concurrent insider sale increases near?term selling pressure and may trigger short?term investor caution. Ellen R. Patterson Form 4

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.