Main Street Research LLC Boosts Stock Holdings in Wells Fargo & Company $WFC

Main Street Research LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 101.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,085 shares of the financial services provider’s stock after acquiring an additional 18,703 shares during the period. Main Street Research LLC’s holdings in Wells Fargo & Company were worth $3,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Redmont Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at $27,000. Marquette Asset Management LLC raised its stake in shares of Wells Fargo & Company by 472.4% in the third 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 during the last quarter. Grey Fox Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $30,000. Kilter Group LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at $31,000. Finally, Main Street Group LTD lifted its holdings in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 1.5%

Wells Fargo & Company stock opened at $74.11 on Friday. The business has a 50-day simple moving average of $87.72 and a two-hundred day simple moving average of $86.47. The company has a market cap of $228.67 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.82 and a beta of 1.08. 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 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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. The firm had revenue of $21.29 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 EPS. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Key Wells Fargo & Company News

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

• Positive Sentiment: Technically deeply oversold and analyst support could spark a relief bounce — MarketBeat notes WFC is trading well below recent highs, its RSI is in oversold territory, and several outlets/analysts maintain Outperform/Buy ratings and high price targets that imply significant upside if sentiment stabilizes. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Positive Sentiment: Strategic optionality in digital assets — filings show Wells Fargo has applied for a WFUSD trademark covering stablecoins and blockchain payment services, signaling a possible future new revenue stream (still speculative and regulatory-dependent). Wells Fargo Submits WFUSD Trademark Application
• Neutral Sentiment: Active analyst research flow — Wells Fargo analysts continue to move ratings/targets across sectors (cuts on Aptiv, upgrades in chemicals, positive calls on travel and retail names). This shows robust research activity that can influence trading in other names but is not directly catalytic for WFC’s fundamentals. Wells Fargo Cuts Aptiv Price Target Wells Fargo Upgrades Chemical Stocks
• Negative Sentiment: Earnings, revenue and operational concerns remain — MarketBeat highlights that WFC missed revenue/earnings expectations in January, has a relatively high efficiency ratio vs. peers, and saw headline risk from reported exposure to the failed U.K. mortgage finance firm Market Financial Solutions; those issues help explain selling pressure and could limit near-term multiple expansion. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Argus increased their price objective on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. upped their target price on shares of Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. HSBC reiterated a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Finally, CICC Research initiated coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

Insider Transactions at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 115,000 shares of company stock worth $10,050,000 in the last 90 days. 0.08% of the stock is currently owned by insiders.

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.