Arizona State Retirement System Sells 39,509 Shares of Wells Fargo & Company $WFC

Arizona State Retirement System trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 900,959 shares of the financial services provider’s stock after selling 39,509 shares during the period. Arizona State Retirement System’s holdings in Wells Fargo & Company were worth $83,969,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 0.5% during the fourth quarter. N.E.W. Advisory Services LLC now owns 28,443 shares of the financial services provider’s stock valued at $2,651,000 after buying an additional 154 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Wells Fargo & Company by 5.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 55,579 shares of the financial services provider’s stock worth $5,180,000 after buying an additional 2,848 shares during the last quarter. Diversified Enterprises LLC raised its position in Wells Fargo & Company by 16.2% in the 4th quarter. Diversified Enterprises LLC now owns 9,487 shares of the financial services provider’s stock worth $884,000 after buying an additional 1,324 shares during the last quarter. Wealth Science Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $483,000. Finally, Quent Long Short Global Small Cap Fund LP bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $1,322,000. 75.90% of the stock is owned by institutional investors.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Regulatory overhang easing — Wells Fargo highlighted the closure of a final regulatory milestone, which could reduce uncertainty and support multiple expansion if confirmed by markets. How Investors May Respond To Wells Fargo (WFC) Earnings Miss, Bond Issuance And Regulatory Milestone
• Positive Sentiment: Rate-driven earnings lift — Wells Fargo reported higher net interest income and a year-over-year rise in net income; the broader bank-earnings beat in Q1 has given the financials group a lift. Big Bank Earnings Gave Financials a Lift, But Wall Street Is Still Cautious (WFC)
• Neutral Sentiment: Dividend and investor appeal — recent coverage is re-evaluating WFC as a potential high-yield / growth dividend pick; this may support longer-term income-focused demand but isn’t an immediate catalyst. Are You Looking for a High-Growth Dividend Stock?
• Negative Sentiment: Debt issuance and revenue miss — the bank issued multiple callable senior unsecured notes maturing 2030–2041 and posted revenue below consensus, which can raise funding costs/concerns about growth execution. How Investors May Respond To Wells Fargo (WFC) Earnings Miss, Bond Issuance And Regulatory Milestone
• Negative Sentiment: Credit pressure and governance friction — Wells Fargo recorded roughly $1.106B of net charge-offs in the quarter and pushed shareholders to oppose several governance/ESG proposals, both of which could weigh on sentiment and attract scrutiny. How Investors May Respond To Wells Fargo (WFC) Earnings Miss, Bond Issuance And Regulatory Milestone

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Argus lifted their target price on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Barclays lowered their price target on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Finally, Truist Financial dropped their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.75.

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 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 directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kleber Santos sold 25,000 shares of the business’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 sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 115,000 shares of company stock worth $10,050,000. Corporate insiders own 0.14% of the company’s stock.

Wells Fargo & Company Stock Down 0.1%

Shares of WFC stock opened at $80.49 on Friday. Wells Fargo & Company has a 12 month low of $67.50 and a 12 month high of $97.76. The stock has a market cap of $248.37 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.95 and a beta of 1.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a 50 day simple moving average of $81.49 and a two-hundred day simple moving average of $86.10.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. The business had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

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.