41,407 Shares in Wells Fargo & Company $WFC Bought by Mach 1 Financial Group LLC

Key Points

• Mach 1 Financial Group LLC opened a new position in Wells Fargo, buying 41,407 shares worth about $3.86 million in the fourth quarter. The stake now represents roughly 0.8% of Mach 1’s portfolio.
• Institutional ownership remains very high, with funds such as Capital Research Global Investors and Legal & General Group Plc also increasing their holdings. Overall, 75.90% of Wells Fargo shares are owned by institutional investors and hedge funds.
• Wells Fargo beat quarterly EPS expectations at $1.60 per share and recently declared a $0.45 quarterly dividend, equal to a 2.4% annualized yield. Analysts currently have a consensus rating of Moderate Buy with a target price of $97.53.

Mach 1 Financial Group LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 41,407 shares of the financial services provider's stock, valued at approximately $3,859,000. Wells Fargo & Company makes up about 0.8% of Mach 1 Financial Group LLC's investment portfolio, making the stock its 29th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of Wells Fargo & Company by 18.6% during 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 acquiring an additional 5,584,930 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Wells Fargo & Company by 1.9% during the third quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider's stock worth $1,760,994,000 after purchasing an additional 399,088 shares during the last quarter. Boston Partners lifted its position in shares of Wells Fargo & Company by 1.9% during the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider's stock worth $763,675,000 after purchasing an additional 174,350 shares during the last quarter. Davis Selected Advisers lifted its position in shares of Wells Fargo & Company by 6.1% during the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider's stock worth $769,649,000 after purchasing an additional 471,979 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Wells Fargo & Company by 8.5% in the third quarter. California Public Employees Retirement System now owns 6,726,087 shares of the financial services provider's stock worth $563,781,000 after acquiring an additional 529,305 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE WFC opened at $75.88 on Thursday. Wells Fargo & Company has a 12 month low of $71.89 and a 12 month 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 firm has a market capitalization of $232.22 billion, a PE ratio of 11.71, a P/E/G ratio of 0.88 and a beta of 0.96. The company's 50 day simple moving average is $78.97 and its 200 day simple moving average is $85.39.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $21.85 billion. During the same quarter last year, the business earned $1.39 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a $0.45 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.4%. Wells Fargo & Company's payout ratio is 27.78%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, March 23rd. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They issued a "buy" rating and a $100.00 target price on the stock. HSBC raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 target price on the stock in a report on Wednesday, April 1st. Finally, KGI Securities cut Wells Fargo & Company to a "hold" rating in a report on Thursday, April 16th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.53.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 115,000 shares of company stock worth $10,050,000. 0.14% of the stock is owned by insiders.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wall Street commentary on Wells Fargo after the $110 million discrimination settlement remains constructive, with a buy-leaning analyst consensus and insider buying suggesting confidence in the stock’s outlook. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Positive Sentiment: Analysts continue to view Wells Fargo favorably overall, with the company still showing a moderate-buy type profile across broker coverage, which can support sentiment even after the settlement news. Wells Fargo & Company Given Average Recommendation of "Moderate Buy" by Brokerages
• Neutral Sentiment: Wells Fargo announced that CEO Charlie Scharf will present at the Bernstein Strategic Decisions Conference, a routine investor-relations update that may draw attention but does not change fundamentals by itself. Wells Fargo to Present at the Bernstein Strategic Decisions Conference
• Neutral Sentiment: A separate article discussed Wells Fargo’s preferred shares as a yield-oriented investment idea, but this is more commentary than a direct catalyst for the common stock. Wells Fargo Long Duration Preferred: Safe Yield, Discount To Par, And Interest Rate Optionality
• Negative Sentiment: The $110 million discrimination settlement remains a headline risk because it underscores Wells Fargo’s ongoing legal and compliance baggage, even if investors appear to be looking past it for now. Wells Fargo agrees to $110M lending, hiring discrimination settlement

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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