HighTower Advisors LLC Cuts Holdings in Wells Fargo & Company $WFC

HighTower Advisors LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,408,993 shares of the financial services provider’s stock after selling 22,341 shares during the quarter. HighTower Advisors LLC’s holdings in Wells Fargo & Company were worth $317,718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Navalign LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth about $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $27,000. Grey Fox Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $30,000. Finally, Imprint Wealth LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter worth $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wells Fargo & Company

In related news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the business’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 in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 115,000 shares of company stock valued at $10,050,000. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 15th. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Barclays reduced their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, UBS Group restated a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Two investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.53.

Key Wells Fargo & Company News

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

• Positive Sentiment: The NAHB/Wells Fargo Housing Market Index unexpectedly rose to 37 in May, signaling a modest rebound in homebuilder confidence and supporting a more constructive outlook for mortgage and housing-related banking activity. U.S. Homebuilder Confidence Unexpectedly Rebounds In May
• Positive Sentiment: Wells Fargo and Lazard moved up league tables on NextEra Energy’s $67 billion acquisition of Dominion Energy, highlighting stronger investment-banking deal activity that could support fee income. Lazard, Wells Fargo Vault Up League Tables on NextEra-Dominion Deal
• Neutral Sentiment: Wells Fargo settled a lawsuit alleging hiring and lending discrimination for $110 million, including a $100 million fund for eligible borrowers in certain low- and moderate-income areas. The agreement removes uncertainty, but it also underscores continued legal and reputational risk. Wells Fargo settles lawsuit alleging hiring, lending discrimination
• Neutral Sentiment: Bloomberg Law reported that Wells Fargo’s $110 million discrimination settlement was approved, confirming the charge but reducing litigation uncertainty going forward. Wells Fargo’s $110 Million Discrimination Settlement is Approved
• Neutral Sentiment: News about Wells Fargo’s call on Disney is not directly material to WFC’s earnings outlook, though it reflects ongoing research activity from the bank’s analysts. Disney (DIS) Still Has Significant Upside Potential, Says Wells Fargo
• Negative Sentiment: Earlier market coverage noted Wells Fargo extending losses alongside Bank of America in a weak broader financials tape, suggesting some sector pressure may still be weighing on the shares. Bank of America, Wells Fargo extend losses; Japanese firms in gainers: week’s financials wrap

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $74.37 on Tuesday. The company has a market cap of $227.59 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.86 and a beta of 0.96. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76. The company’s 50-day moving average price is $79.15 and its 200-day moving average price is $85.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 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 company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. Wells Fargo & Company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

Wells Fargo & 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.