Leonteq Securities AG Invests $1.94 Million in Wells Fargo & Company $WFC

Key Points

• Leonteq Securities AG opened a new position in Wells Fargo during the fourth quarter, buying 20,840 shares worth about $1.94 million.
• Insider selling picked up, with executives Ellen R. Patterson and Bridget E. Engle selling shares; insiders have sold $10.05 million worth of stock over the last 90 days.
• Wells Fargo reported Q1 EPS of $1.60, slightly ahead of estimates, and also announced a quarterly dividend of $0.45 per share to be paid June 1, implying a 2.4% annualized yield.

Leonteq Securities AG acquired a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,840 shares of the financial services provider's stock, valued at approximately $1,942,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Navalign LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth $27,000. Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $28,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the transaction, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bridget E. Engle sold 30,000 shares of the 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 transaction, the executive vice president owned 83,478 shares of the company's stock, valued at $7,270,933.80. This trade represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,000 shares of company stock worth $10,050,000 over the last 90 days. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group restated a "buy" rating and set a $113.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a "buy" rating and a $100.00 target price for the company. Evercore restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Finally, Barclays dropped 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. Two 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.53.

Wells Fargo & Company Price Performance

WFC stock opened at $75.88 on Thursday. Wells Fargo & Company has a 52 week low of $71.89 and a 52 week 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. The company has a fifty day simple moving average of $78.97 and a two-hundred day simple moving average of $85.39. The firm has a market capitalization of $232.22 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same quarter last year, the business earned $1.39 earnings per share. Wells Fargo & Company's quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.4%. Wells Fargo & Company's dividend payout ratio (DPR) is 27.78%.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: Wells Fargo agreed to a $110 million settlement tied to lending and hiring discrimination claims, and the court framed the borrower assistance fund as a step toward expanding equitable access to financial services. The removal of a legal overhang could be viewed as positive for sentiment. Wells Fargo agrees to $110M lending, hiring discrimination settlement
• Neutral Sentiment: Wells Fargo is also getting attention from brokers and news readers, with recent coverage noting the stock has a “Moderate Buy” consensus and strong investor interest, which supports ongoing trading activity but does not materially change the fundamental story. Wells Fargo & Company NYSE: WFC Given Average Recommendation of "Moderate Buy" by Brokerages
• Neutral Sentiment: The company also announced that CEO Charlie Scharf will present at the Bernstein Strategic Decisions Conference on May 27, keeping Wells Fargo in the spotlight and potentially giving management a venue to discuss strategy, but this is more of a near-term event than a direct catalyst. Wells Fargo to Present at the Bernstein Strategic Decisions Conference
• Negative Sentiment: The settlement news also highlights that Wells Fargo continues to work through legacy legal and regulatory issues, which can weigh on investor confidence even when the financial cost is manageable.
• Negative Sentiment: One analyst note today trimmed Meta Platforms’ price target from Wells Fargo’s research desk, but that update is about Meta rather than Wells Fargo stock itself and is unlikely to be a direct driver for WFC.

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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

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.