Wells Fargo & Company $WFC Shares Sold by Davis Selected Advisers

Davis Selected Advisers lessened its stake in Wells Fargo & Company (NYSE:WFC) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,786,052 shares of the financial services provider’s stock after selling 390,371 shares during the quarter. Wells Fargo & Company comprises approximately 3.4% of Davis Selected Advisers’ investment portfolio, making the stock its 12th biggest position. Davis Selected Advisers’ holdings in Wells Fargo & Company were worth $652,627,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $27,000. Marquette Asset Management LLC raised its position in shares of Wells Fargo & Company by 472.4% during the 3rd 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 Wells Fargo & Company in the 3rd quarter valued at about $30,000. Kilter Group LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at about $31,000. Finally, Imprint Wealth LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter worth about $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wells Fargo launched a nationwide Housing Affordability Breakthrough Challenge, committing $10 million in grants, technical assistance and mentorship to scalable housing solutions — a reputational and community-investment play that supports franchise goodwill and potential future lending/partnership opportunities. Wells Fargo Launches National Challenge to Uncover Innovative Housing Solutions (Yahoo)
• Positive Sentiment: Wells Fargo’s FiNet channel recruited advisory teams that bring roughly $1.2B in client assets, directly boosting fee revenue and AUM growth in its independent advisory distribution. Wells Fargo’s FiNet Recruits Advisory Teams from UBS, Commonwealth, and Stifel (Yahoo)
• Positive Sentiment: Analysis pieces highlight Wells Fargo’s capital-return strategy and liquidity strength, suggesting the bank may be positioned to sustain dividends and buybacks — a constructive view for income-oriented investors. Is Wells Fargo Well-Positioned to Sustain Its Capital Return Strategy? (Zacks)
• Neutral Sentiment: Wells Fargo filed a trademark for “WFUSD,” hinting at a potential stablecoin initiative that could expand payments and digital-asset services; this is strategic upside but carries regulatory and execution risk. Wells Fargo WFUSD Stablecoin Filing Meets Weak Share Momentum And Valuation (Yahoo)
• Neutral Sentiment: The company designated a new Series GG preferred stock (announcement March 16), a capital-management tool that could be used to optimize funding; impact depends on whether and how much is issued. Wells Fargo Establishes New Series GG Preferred Stock (TipRanks)
• Neutral Sentiment: A former Wells Fargo executive is leading EOS Investors’ new hotel credit strategy — a reminder of talent mobility from the bank but with limited direct impact on WFC’s fundamentals. EOS Investors Launches Hotel Credit Strategy Led by Former Wells Fargo Executive (Yahoo)
• Negative Sentiment: Truist cut its WFC price target from $98 to $94 (while keeping a Buy), trimming upside and reflecting a slightly more cautious view that can pressure sentiment. Truist Lowers PT on Wells Fargo (Benzinga/StreetInsider)
• Negative Sentiment: Sector commentary notes bank stocks acting as a signal for private-credit stress; broader private-credit concerns and any spillovers could weigh on Wells Fargo’s valuation and risk premium. Bank Stocks Are the Canary in the Recession Coal Mine (Barron’s)

Insiders Place Their Bets

In related news, EVP Kleber Santos sold 25,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. This represents a 23.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at $7,270,933.80. This represents a 26.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,000 shares of company stock valued at $10,050,000 in the last three months. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Trading Down 0.2%

Shares of Wells Fargo & Company stock opened at $76.11 on Thursday. The stock has a market cap of $234.86 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.83 and a beta of 1.08. The stock’s 50 day simple moving average is $86.54 and its 200-day simple moving average is $86.37. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results 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. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict 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 Sunday, March 1st. Shareholders of record on Friday, February 6th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Freedom Capital lowered Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. HSBC reaffirmed a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Wolfe Research restated an “outperform” rating and issued a $109.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

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.