BSN CAPITAL PARTNERS Ltd Makes New $42.88 Million Investment in Wells Fargo & Company $WFC

Key Points

• BSN CAPITAL PARTNERS Ltd opened a new position in Wells Fargo during the fourth quarter, buying 460,031 shares worth about $42.9 million. The stake represents 1.9% of its portfolio and ranks as its 13th largest holding.
• Wells Fargo continues to attract major institutional interest, with firms like Norges Bank, Capital Research Global Investors, and UBS AM also adding to or establishing large positions. Overall, 75.9% of the stock is owned by institutional investors.
• The bank recently beat earnings expectations, reporting $1.60 EPS versus the $1.58 consensus, while also paying a quarterly dividend of $0.45 per share. Analysts currently rate the stock a Moderate Buy with a consensus price target of $98.24.

BSN CAPITAL PARTNERS Ltd purchased a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 460,031 shares of the financial services provider's stock, valued at approximately $42,875,000. Wells Fargo & Company accounts for 1.9% of BSN CAPITAL PARTNERS Ltd's investment portfolio, making the stock its 13th largest position.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Wells Fargo & Company during the fourth quarter worth $4,512,563,000. Capital Research Global Investors lifted its position in shares of Wells Fargo & Company by 4.9% during the 4th quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider's stock valued at $3,487,687,000 after buying an additional 1,760,484 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider's stock worth $1,975,600,000 after acquiring an additional 188,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Wells Fargo & Company by 13.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider's stock valued at $1,922,257,000 after purchasing an additional 2,369,260 shares in the last quarter. Finally, Boston Partners increased its stake in Wells Fargo & Company by 5.2% in the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider's stock worth $895,466,000 after acquiring an additional 477,745 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $82.31 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $251.89 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.96 and a beta of 0.93. The business's fifty day simple moving average is $79.70 and its 200-day simple moving average is $84.59. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping 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 firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same period in the previous year, the company posted $1.39 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Barclays cut their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating for the company in a research report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Two research 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.24.

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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