Groupama Asset Managment Buys 19,712 Shares of Wells Fargo & Company $WFC

Key Points

• Groupama Asset Managment increased its Wells Fargo stake by 15.5% in the fourth quarter, buying 19,712 shares and bringing its total holding to 146,979 shares worth about $13.46 million.
• Wells Fargo shares were down 1.8% to $82.31, while the stock still trades above its 52-week low and carries a market cap of roughly $251.9 billion.
• The bank beat quarterly earnings expectations with EPS of $1.60, paid a $0.45 quarterly dividend, and analysts currently rate the stock a Moderate Buy with an average price target of $98.24.

Groupama Asset Managment increased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,979 shares of the financial services provider's stock after acquiring an additional 19,712 shares during the period. Groupama Asset Managment's holdings in Wells Fargo & Company were worth $13,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Diversified Trust Co. raised its holdings in Wells Fargo & Company by 59.7% during the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock worth $3,289,000 after purchasing an additional 13,196 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Wells Fargo & Company by 19.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock valued at $49,610,000 after purchasing an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Wells Fargo & Company by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock valued at $32,673,000 after buying an additional 14,168 shares during the period. Natixis Advisors LLC boosted its position in shares of Wells Fargo & Company by 4.2% during the 3rd quarter. Natixis Advisors LLC now owns 3,482,885 shares of the financial services provider's stock valued at $291,935,000 after purchasing an additional 139,659 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after purchasing an additional 17,302 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 1.8%

Shares of NYSE WFC opened at $82.31 on Friday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The business has a 50-day simple moving average of $79.75 and a two-hundred day simple moving average of $84.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a market cap of $251.89 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.98 and a beta of 0.93.

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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The company's quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a dividend of $0.45 per share. 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 payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WFC shares. Morgan Stanley reduced their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. The Goldman Sachs Group dropped 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. 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. Finally, Evercore restated an "outperform" rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Two 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 MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average price target of $98.24.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
• Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
• Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
• Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
• Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets

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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