Los Angeles Capital Management LLC Purchases 1,536,536 Shares of Wells Fargo & Company $WFC

Los Angeles Capital Management LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 818.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,724,259 shares of the financial services provider’s stock after buying an additional 1,536,536 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Wells Fargo & Company were worth $148,269,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $4,512,563,000. Capital Research Global Investors raised its stake in shares of Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after buying an additional 5,584,930 shares during the period. Mawer Investment Management Ltd. raised its stake in shares of Wells Fargo & Company by 177.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock valued at $454,455,000 after buying an additional 3,120,399 shares during the period. Danske Bank A S bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $215,638,000. Finally, M&G PLC raised its stake in shares of Wells Fargo & Company by 320.3% during the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock valued at $247,487,000 after purchasing an additional 2,245,307 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WFC shares. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Barclays decreased their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen lowered Wells Fargo & Company from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Finally, KGI Securities lowered Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.53.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $82.06 on Friday. Wells Fargo & Company has a 52-week low of $71.93 and a 52-week high of $97.76. The business’s fifty day moving average is $79.20 and its 200 day moving average is $84.70. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $251.13 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. Research analysts predict that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: Analysts remain constructive on Wells Fargo after management offered a strong outlook, with coverage showing a majority Buy rating and implied upside to the shares. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Wells Fargo is also part of a planned shared tokenized deposit network led by The Clearing House, suggesting the bank is positioning itself for faster, blockchain-based payments and a new growth avenue. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Coverage noting that Wells Fargo is a trending stock points to heightened investor attention, but it does not add new fundamentals by itself. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo’s role in the tokenized-deposit network was reiterated in separate reports, reinforcing the strategic theme rather than signaling an immediate financial impact. Tokenized Deposits Set Up Banking’s Next Network Race

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.