BI Asset Management Fondsmaeglerselskab A S Purchases 170,396 Shares of Wells Fargo & Company $WFC

BI Asset Management Fondsmaeglerselskab A S increased its stake in Wells Fargo & Company (NYSE:WFC) by 55.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 476,406 shares of the financial services provider's stock after purchasing an additional 170,396 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Wells Fargo & Company were worth $44,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Navalign LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $27,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts remain constructive on Wells Fargo after management offered a strong outlook, with coverage showing a majority Buy rating and implied upside to the shares. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Wells Fargo is also part of a planned shared tokenized deposit network led by The Clearing House, suggesting the bank is positioning itself for faster, blockchain-based payments and a new growth avenue. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Coverage noting that Wells Fargo is a trending stock points to heightened investor attention, but it does not add new fundamentals by itself. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo’s role in the tokenized-deposit network was reiterated in separate reports, reinforcing the strategic theme rather than signaling an immediate financial impact. Tokenized Deposits Set Up Banking’s Next Network Race

Wells Fargo & Company Trading Up 0.5%

Shares of WFC opened at $82.06 on Friday. 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 $71.93 and a 12-month high of $97.76. The firm has a market capitalization of $251.13 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The stock's fifty day simple moving average is $79.20 and its 200-day simple moving average is $84.70.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly 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. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research reports. Evercore restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Morgan Stanley lowered their price target on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. The Goldman Sachs Group lowered their price target on 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. HSBC upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. Finally, KGI Securities cut Wells Fargo & Company to a "hold" rating in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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