12,893 Shares in Wells Fargo & Company $WFC Purchased by Marble Wealth LLC

Key Points

• Marble Wealth LLC opened a new position in Wells Fargo in the fourth quarter, buying 12,893 shares worth about $1.2 million.
• Wells Fargo continues to attract interest from large investors, with institutional ownership at 75.9% and several hedge funds recently adding to their stakes.
• The bank recently beat quarterly earnings estimates with $1.60 EPS, paid a $0.45 per-share dividend, and has a consensus analyst rating of Moderate Buy with a price target of $97.53.

Marble Wealth LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,893 shares of the financial services provider's stock, valued at approximately $1,202,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sequent Asset Management LLC raised its position in Wells Fargo & Company by 7.5% in the fourth quarter. Sequent Asset Management LLC now owns 6,753 shares of the financial services provider's stock worth $629,000 after purchasing an additional 472 shares in the last quarter. Calton & Associates Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth about $242,000. Dynasty Wealth Management LLC raised its position in Wells Fargo & Company by 23.5% in the fourth quarter. Dynasty Wealth Management LLC now owns 38,723 shares of the financial services provider's stock worth $3,609,000 after purchasing an additional 7,376 shares in the last quarter. Natixis Advisors LLC raised its position in Wells Fargo & Company by 4.6% in the fourth quarter. Natixis Advisors LLC now owns 3,644,124 shares of the financial services provider's stock worth $339,633,000 after purchasing an additional 161,239 shares in the last quarter. Finally, Heritage Trust Co grew its stake in Wells Fargo & Company by 1.7% during the fourth quarter. Heritage Trust Co now owns 18,090 shares of the financial services provider's stock worth $1,686,000 after buying an additional 296 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo shares rose as recent market commentary highlighted the stock’s recent strength versus the broader market, reinforcing momentum in the name. Wells Fargo (WFC) Rises Higher Than Market: Key Facts
• Positive Sentiment: Investors are also weighing Wells Fargo’s valuation after a recent pullback, which may be drawing value-oriented buyers into the stock. Is Wells Fargo (WFC) Offering Value After Recent Share Price Pullback?
• Positive Sentiment: Wells Fargo is set to present at the Morgan Stanley U.S. Financials Conference next week, which keeps the company in focus and could provide fresh updates on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference

Wells Fargo & Company Price Performance

WFC opened at $79.43 on Wednesday. Wells Fargo & Company has a one year low of $71.93 and a one year high of $97.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The company's 50 day simple moving average is $79.08 and its 200-day simple moving average is $84.84. The stock has a market capitalization of $243.07 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate 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 business had revenue of $11.62 billion for the quarter, compared to analysts' expectations of $21.85 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. Wells Fargo & Company's revenue was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company's payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WFC. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley dropped their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating for the company in a report on Wednesday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Finally, Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They set a "buy" rating and a $100.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.53.

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.

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