Mangrove Partners IM LLC Takes Position in Wells Fargo & Company $WFC

Mangrove Partners IM LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 10,794 shares of the financial services provider’s stock, valued at approximately $905,000.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Wells Fargo & Company during the second quarter valued at $3,990,551,000. Massachusetts Financial Services Co. MA grew its holdings in Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after acquiring an additional 5,894,747 shares during the period. Capital Research Global Investors raised its position in shares of Wells Fargo & Company by 18.6% in the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after acquiring an additional 5,584,930 shares in the last quarter. M&G PLC raised its position in shares of Wells Fargo & Company by 320.3% in the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock worth $247,487,000 after acquiring an additional 2,245,307 shares in the last quarter. Finally, Amundi lifted its stake in shares of Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the period. Institutional investors own 75.90% of the company’s stock.

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

Insiders Place Their Bets

In other news, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 115,000 shares of company stock valued at $10,050,000. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and set a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. UBS Group reiterated a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Wells Fargo & Company Stock Down 1.5%

WFC stock opened at $74.11 on Friday. The stock 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. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $87.72 and its two-hundred day simple moving average is $86.47. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $21.29 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

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.