ABN Amro Investment Solutions Has $20.62 Million Position in Wells Fargo & Company $WFC

Key Points

• ABN Amro Investment Solutions boosted its Wells Fargo stake by 176.8% in Q4, ending with 221,278 shares worth about $20.62 million.
• Wells Fargo is still dealing with legacy legal and regulatory issues, highlighted by a recent $110 million settlement tied to lending and hiring discrimination claims.
• The bank reported better-than-expected Q1 EPS of $1.60 and announced a quarterly dividend of $0.45 per share, while analysts maintained a Moderate Buy consensus.

ABN Amro Investment Solutions raised its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 176.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,278 shares of the financial services provider's stock after buying an additional 141,330 shares during the quarter. ABN Amro Investment Solutions' holdings in Wells Fargo & Company were worth $20,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co. grew its position in shares of Wells Fargo & Company by 59.7% during the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock worth $3,289,000 after purchasing an additional 13,196 shares in the last quarter. Mawer Investment Management Ltd. bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $147,165,000. Guerra Advisors Inc grew its holdings in shares of Wells Fargo & Company by 43.2% during the 3rd quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider's stock valued at $3,222,000 after purchasing an additional 11,594 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Wells Fargo & Company by 1,121.0% during the 3rd quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider's stock valued at $2,018,000 after purchasing an additional 22,107 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in Wells Fargo & Company by 52.7% during the 3rd quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider's stock worth $11,639,000 after acquiring an additional 47,946 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

More Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo agreed to a $110 million settlement tied to lending and hiring discrimination claims, and the court framed the borrower assistance fund as a step toward expanding equitable access to financial services. The removal of a legal overhang could be viewed as positive for sentiment. Wells Fargo agrees to $110M lending, hiring discrimination settlement
• Neutral Sentiment: Wells Fargo is also getting attention from brokers and news readers, with recent coverage noting the stock has a “Moderate Buy” consensus and strong investor interest, which supports ongoing trading activity but does not materially change the fundamental story. Wells Fargo & Company NYSE: WFC Given Average Recommendation of "Moderate Buy" by Brokerages
• Neutral Sentiment: The company also announced that CEO Charlie Scharf will present at the Bernstein Strategic Decisions Conference on May 27, keeping Wells Fargo in the spotlight and potentially giving management a venue to discuss strategy, but this is more of a near-term event than a direct catalyst. Wells Fargo to Present at the Bernstein Strategic Decisions Conference
• Negative Sentiment: The settlement news also highlights that Wells Fargo continues to work through legacy legal and regulatory issues, which can weigh on investor confidence even when the financial cost is manageable.
• Negative Sentiment: One analyst note today trimmed Meta Platforms’ price target from Wells Fargo’s research desk, but that update is about Meta rather than Wells Fargo stock itself and is unlikely to be a direct driver for WFC.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. KGI Securities lowered shares of Wells Fargo & Company to a "hold" rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods reduced their target price on shares of Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating on the stock in a report on Wednesday, April 15th. Robert W. Baird raised shares of Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 target price on the stock in a report on Friday, February 13th. 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. Finally, Barclays reduced their price objective on shares of 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. Two equities research 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.53.

Wells Fargo & Company Stock Up 1.8%

Wells Fargo & Company stock opened at $75.88 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a 12-month low of $71.89 and a 12-month high of $97.76. The firm's fifty day moving average is $78.97 and its 200 day moving average is $85.39. The company has a market capitalization of $232.22 billion, a PE ratio of 11.71, a PEG ratio of 0.88 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (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 company had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter in the previous year, the company earned $1.39 EPS. Wells Fargo & Company's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Insider Activity at Wells Fargo & Company

In related news, EVP Ellen R. Patterson sold 60,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. The trade was a 26.14% 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 Bridget E. Engle sold 30,000 shares of the company's 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 owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,000 shares of company stock worth $10,050,000 in the last quarter. Company insiders own 0.14% of the company's stock.

About Wells Fargo & Company

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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