Harvest Fund Management Co. Ltd raised its holdings in Wells Fargo & Company (NYSE:WFC) by 34.0% in the fourth quarter, Holdings Channel reports. The fund owned 66,868 shares of the financial services provider’s stock after buying an additional 16,949 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Wells Fargo & Company were worth $6,232,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased 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 worth $4,652,000 after buying an additional 25,436 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Wells Fargo & Company by 12.9% during the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC increased its holdings in shares of Wells Fargo & Company by 111.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after buying an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after buying an additional 8,714 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.
Wells Fargo & Company Price Performance
Wells Fargo & Company stock opened at $81.50 on Friday. The stock has a market cap of $249.41 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The company has a fifty day simple moving average of $79.16 and a 200-day simple moving average of $84.72. Wells Fargo & Company has a 12-month low of $71.93 and a 12-month high of $97.76. 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 Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s payout ratio is 27.78%.
Wall Street Analysts Forecast Growth
WFC has been the subject of a number of recent analyst reports. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. JPMorgan Chase & Co. cut their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.53.
View Our Latest Stock Report on WFC
Key Stories Impacting Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Several reports said Wall Street remains bullish on Wells Fargo after the CEO offered a strong outlook, with 69% of covering analysts rating the stock a Buy and the average price target implying substantial upside. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
- Positive Sentiment: Bank of America said Wells Fargo shares may be at an attractive entry point, arguing that the stock’s recent pullback looks larger than the deterioration in fundamentals and could appeal to value-focused investors. Wells Fargo shares at attractive entry point amid execution concerns
- Positive Sentiment: Investor interest has also picked up, with Zacks noting WFC has become a trending stock as market participants look for a buy case in the shares. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
- Neutral Sentiment: Wells Fargo also drew attention for consumer-focused homebuying research and broader financial wellness commentary, but these items are more informational than directly material to near-term earnings. Are You Ready to Buy a Home? Wells Fargo Finds Most Prospective First-Time Buyers Aren’t and Don’t Know It
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.
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