Anchyra Partners LLC Invests $1.24 Million in Wells Fargo & Company $WFC

Key Points

• Anchyra Partners LLC bought a new stake in Wells Fargo during Q4, acquiring 13,333 shares worth about $1.243 million, while institutional investors now own roughly 75.9% of the stock.
• Company insiders sold a total of 115,000 shares worth ~$10.05 million
• Wells Fargo beat EPS estimates ($1.60 vs. $1.58) but slightly missed revenue, pays a quarterly dividend of $0.45 (≈2.3% yield), and has a consensus analyst rating of "Moderate Buy" with an average price target of $97.75.

Anchyra Partners LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,333 shares of the financial services provider's stock, valued at approximately $1,243,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Wealth Group LLC lifted its stake in shares of Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider's stock worth $421,000 after acquiring an additional 108 shares during the period. Moss Adams Wealth Advisors LLC increased its stake in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider's stock valued at $1,123,000 after acquiring an additional 117 shares during the period. Main Street Group LTD increased its stake in shares of Wells Fargo & Company by 36.9% during the third quarter. Main Street Group LTD now owns 438 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 118 shares during the period. D Orazio & Associates Inc. raised its holdings in Wells Fargo & Company by 3.6% during the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider's stock worth $288,000 after purchasing an additional 118 shares in the last quarter. Finally, Stonebrook Private Inc. raised its holdings in Wells Fargo & Company by 2.7% during the third quarter. Stonebrook Private Inc. now owns 4,511 shares of the financial services provider's stock worth $378,000 after purchasing an additional 118 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $79.45 on Monday. The stock has a market capitalization of $245.16 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.93 and a beta of 1.06. Wells Fargo & Company has a 1 year low of $68.67 and a 1 year high of $97.76. The business's fifty day moving average is $81.34 and its two-hundred day moving average is $86.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced 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. The company had revenue of $21.45 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, research analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, February 6th. Wells Fargo & Company's dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

A number of brokerages have issued reports on WFC. Wolfe Research reaffirmed an "outperform" rating and set a $109.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. UBS Group reissued a "buy" rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Truist Financial cut their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating for the company in a report on Tuesday, March 17th. Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating for the company in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating on the stock in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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 dated Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company's stock, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,000 shares of company stock worth $10,050,000 in the last quarter. 0.14% of the stock is owned by company insiders.

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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