IPG Investment Advisors LLC Buys 17,479 Shares of Wells Fargo & Company $WFC

Key Points

• IPG Investment Advisors LLC sharply increased its Wells Fargo stake by 685.5% in the fourth quarter, adding 17,479 shares to bring its total position to 20,029 shares worth about $1.87 million.
• Wells Fargo management said it expects investment banking and trading revenue to rise by mid-teen percentages in the second quarter, a sign of improving fee-based momentum. The company is also pursuing growth opportunities such as mortgage incentives tied to 3D-printed homes.
• The stock has faced pressure despite recent positive operating signals, with shares down year to date and trading below key moving averages. Wells Fargo also continues to deal with legal and regulatory overhangs, including a reported $100 million settlement tied to struggling homebuyers.

IPG Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 685.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,029 shares of the financial services provider's stock after purchasing an additional 17,479 shares during the quarter. IPG Investment Advisors LLC's holdings in Wells Fargo & Company were worth $1,867,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC boosted its position in Wells Fargo & Company by 4.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 97,134 shares of the financial services provider's stock worth $9,053,000 after purchasing an additional 4,384 shares during the period. Texas Capital Bank Wealth Management Services Inc boosted its position in Wells Fargo & Company by 78.5% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 8,139 shares of the financial services provider's stock worth $759,000 after purchasing an additional 3,580 shares during the period. Fidelis Capital Partners LLC boosted its position in Wells Fargo & Company by 77.8% during the fourth quarter. Fidelis Capital Partners LLC now owns 71,018 shares of the financial services provider's stock worth $6,619,000 after purchasing an additional 31,080 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in Wells Fargo & Company by 2.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 181,008 shares of the financial services provider's stock worth $16,870,000 after purchasing an additional 3,769 shares during the period. Finally, Flputnam Investment Management Co. boosted its position in Wells Fargo & Company by 44.1% during the fourth quarter. Flputnam Investment Management Co. now owns 116,402 shares of the financial services provider's stock worth $10,849,000 after purchasing an additional 35,596 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company News Summary

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

• Positive Sentiment: CEO Charlie Scharf said Wells Fargo expects investment banking and trading revenue to grow by mid-teen percentages in the second quarter, signaling improving fee-based momentum and helping support the bank’s earnings outlook. Wells Fargo CEO sees mid-teens growth in investment banking, trading
• Positive Sentiment: Wells Fargo also highlighted mortgage incentives tied to ICON’s 3D-printed homes, showing efforts to expand lending opportunities and grow originations in niche housing markets. Wells Fargo to offer mortgage incentives on 3D printed homes with Icon
• Neutral Sentiment: The company presented at Bernstein’s Strategic Decisions Conference, which may have kept Wells Fargo in focus but did not by itself add a major new catalyst. Wells Fargo & Company (WFC) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: Several articles reiterated Wells Fargo as a dividend stock and discussed its longer-term recovery potential, but these were largely commentary pieces rather than new fundamental developments. Wells Fargo (WFC) is a Top Dividend Stock Right Now: Should You Buy?
• Negative Sentiment: Recent coverage noted that WFC shares have fallen sharply year to date and were down again after a six-day rally, suggesting investors are still wary about the stock’s near-term momentum. Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: Investor attention also remains on Wells Fargo’s still-elevated legal and regulatory overhangs, including a reported $100 million settlement tied to struggling homebuyers. Wells Fargo settlement will pay 100M to help struggling homebuyers in 51 cities

Wells Fargo & Company Stock Down 1.9%

Shares of WFC stock opened at $76.02 on Thursday. Wells Fargo & Company has a 12 month low of $71.93 and a 12 month high of $97.76. The firm has a market cap of $232.65 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The stock has a 50 day moving average of $79.02 and a 200-day moving average of $85.03. 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 issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 earnings per share. On average, equities analysts predict that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a $0.45 dividend. 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 is presently 27.78%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. Robert W. Baird raised Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 target price for the company in a research report on Friday, February 13th. Evercore reiterated an "outperform" rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Truist Financial cut their price target on Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating for the company in a report on Tuesday, March 17th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating for the company in a report on Thursday, April 30th. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.