Genus Capital Management Inc. Has $3.71 Million Position in Wells Fargo & Company $WFC

Key Points

• Genus Capital Management boosted its Wells Fargo stake by 328% in the fourth quarter, ending with 39,800 shares worth about $3.71 million.
• Wells Fargo insiders sold shares: EVP Bridget E. Engle sold 30,000 shares and EVP Ellen R. Patterson sold 60,000 shares, both on February 26, while institutions still own 75.9% of the stock.
• The bank reported Q1 earnings of $1.60 per share, slightly ahead of estimates, and recently declared a quarterly dividend of $0.45 per share for a 2.4% yield.

Genus Capital Management Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 328.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,800 shares of the financial services provider's stock after acquiring an additional 30,500 shares during the quarter. Genus Capital Management Inc.'s holdings in Wells Fargo & Company were worth $3,709,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, EVP Bridget E. Engle sold 30,000 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the sale, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. This trade represents a 26.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.14% of the company's stock.

Wells Fargo & Company Trading Up 0.2%

Shares of NYSE WFC opened at $76.52 on Monday. The company's fifty day moving average is $78.92 and its 200-day moving average is $85.24. The stock has a market cap of $234.15 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 0.90 and a beta of 0.96. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76. 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 (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. The company 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued 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 dividend payout ratio (DPR) is presently 27.78%.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC's Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Analyst Ratings Changes

A number of equities analysts have issued reports on WFC shares. UBS Group reaffirmed a "buy" rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, March 23rd. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Truist Financial reduced their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 15th. Two investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.53.

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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