Bank Julius Baer & Co. Ltd Zurich Boosts Holdings in Wells Fargo & Company $WFC

Key Points

• Bank Julius Baer & Co. Ltd Zurich boosted its Wells Fargo stake by 71.4% in the fourth quarter, ending with 2.36 million shares valued at about $220.8 million.
• Wells Fargo reported Q1 EPS of $1.60, slightly ahead of estimates, but revenue of $11.62 billion fell well below expectations, leaving investors cautious despite year-over-year revenue growth.
• The bank declared a quarterly dividend of $0.45 per share payable June 1, while analysts remain generally constructive with a Moderate Buy consensus and an average price target of $97.53.

Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 71.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,361,217 shares of the financial services provider's stock after acquiring an additional 983,806 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.08% of Wells Fargo & Company worth $220,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors increased its position in Wells Fargo & Company by 18.6% during the 3rd 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 purchasing an additional 5,584,930 shares during the period. Danske Bank A S purchased a new position in Wells Fargo & Company during the 3rd quarter valued at $215,638,000. M&G PLC increased its position in Wells Fargo & Company by 320.3% during the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider's stock valued at $247,487,000 after purchasing an additional 2,245,307 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in Wells Fargo & Company during the 4th quarter valued at $173,651,000. Finally, Mawer Investment Management Ltd. purchased a new position in Wells Fargo & Company during the 3rd quarter valued at $147,165,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $73.52 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $224.98 billion, a P/E ratio of 11.35, a P/E/G ratio of 0.88 and a beta of 0.96. The company's 50-day simple moving average is $79.69 and its two-hundred day simple moving average is $85.82. Wells Fargo & Company has a 52-week low of $71.89 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analysts' expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 EPS. As a group, analysts predict that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Insider Transactions at Wells Fargo & Company

In other news, EVP Ellen R. Patterson sold 60,000 shares of the 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 $14,813,950.40. This represents a 26.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kleber Santos sold 25,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of 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 ownership of the stock. 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.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Phillip Securities upgraded Wells Fargo to Buy with a $98 price target, reinforcing the view that the stock remains undervalued and may have room to rebound. Wells Fargo (WFC) Upgraded to ‘Buy’ with $98 Price Target
• Positive Sentiment: Other recent coverage also argued Wells Fargo still offers meaningful upside, with one report pointing to about 16% upside despite the recent selloff. Wells Fargo Set for 16% Upside Despite Recent Selloff
• Neutral Sentiment: Wells Fargo’s own analyst Ohsung Kwon is making headlines for a broader market call that AI is in an “euphoric” bubble, a comment that reflects the firm’s active market research but does not directly change Wells Fargo’s fundamentals. Wells Fargo: AI is a ‘euphoric’ bubble and investors should ride it until it pops
• Neutral Sentiment: Fresh articles on Wells Fargo’s increased Ether ETF exposure and shifting crypto holdings may signal portfolio repositioning, but they are not likely to move the bank’s stock on their own. Wells Fargo lifts Ether ETF holdings in Q1 as Bitcoin positions shift
• Negative Sentiment: The stock has also been weighed by the broader market’s reaction to Wells Fargo’s latest earnings and revenue mix, where EPS beat estimates but revenue came in well below expectations, keeping investors cautious about the pace of growth.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WFC shares. The Goldman Sachs Group reduced 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 research report on Monday, March 23rd. JPMorgan Chase & Co. reduced their target price on shares of Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. TD Cowen reduced their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, January 15th. CICC Research started coverage on shares of Wells Fargo & Company in a research report on Wednesday, January 14th. They issued a "market perform" rating and a $96.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Two 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's stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average 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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