Los Angeles Capital Management LLC Has $148.27 Million Holdings in Wells Fargo & Company $WFC

Key Points

• Los Angeles Capital Management sharply increased its Wells Fargo stake by 818.5% in the fourth quarter, ending with 1.72 million shares valued at about $148.3 million.
• Institutional ownership in Wells Fargo remains high, with 75.9% of shares held by hedge funds and other institutional investors, while several smaller funds also initiated new positions.
• Wall Street sentiment is still mostly positive: analysts rate the stock Moderate Buy on average, Wells Fargo recently beat EPS estimates in its latest quarter, and the company continues paying a quarterly dividend of $0.45 per share.

Los Angeles Capital Management LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 818.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,724,259 shares of the financial services provider's stock after buying an additional 1,536,536 shares during the period. Los Angeles Capital Management LLC owned about 0.05% of Wells Fargo & Company worth $148,269,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Godfrey Financial Associates Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Navalign LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $27,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. KGI Securities cut Wells Fargo & Company to a "hold" rating in a research report on Thursday, April 16th. Barclays cut their target price on Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 15th. Truist Financial cut their target price on 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. Evercore reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.53.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Analysts remain constructive on Wells Fargo after management offered a strong outlook, with coverage showing a majority Buy rating and implied upside to the shares. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Wells Fargo is also part of a planned shared tokenized deposit network led by The Clearing House, suggesting the bank is positioning itself for faster, blockchain-based payments and a new growth avenue. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Coverage noting that Wells Fargo is a trending stock points to heightened investor attention, but it does not add new fundamentals by itself. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo’s role in the tokenized-deposit network was reiterated in separate reports, reinforcing the strategic theme rather than signaling an immediate financial impact. Tokenized Deposits Set Up Banking’s Next Network Race

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $82.06 on Friday. The business's fifty day simple moving average is $79.20 and its 200 day simple moving average is $84.70. The firm has a market capitalization of $251.13 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a 12 month low of $71.93 and a 12 month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

About Wells Fargo & Company

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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