Shepherd Street Advisors LLC Purchases Shares of 30,397 Wells Fargo & Company $WFC

Key Points

• Shepherd Street Advisors LLC bought 30,397 shares of Wells Fargo in the fourth quarter, a stake worth about $2.83 million and now representing 2.7% of its portfolio.
• Institutional interest in Wells Fargo remains high, with hedge funds and other investors owning 75.90% of the stock. Several other firms also opened new positions during the quarter.
• Analysts remain broadly positive but have trimmed some price targets; the stock currently carries a Moderate Buy consensus with an average target of $97.53. Wells Fargo also recently reported earnings of $1.60 per share, beat estimates, and continued its quarterly dividend of $0.45 per share.

Shepherd Street Advisors LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 30,397 shares of the financial services provider's stock, valued at approximately $2,833,000. Wells Fargo & Company comprises approximately 2.7% of Shepherd Street Advisors LLC's portfolio, making the stock its 9th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at $27,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating for the company in a research note on Wednesday, April 15th. Piper Sandler reiterated an "overweight" rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $97.53.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: Wells Fargo shares rose as recent market commentary highlighted the stock’s recent strength versus the broader market, reinforcing momentum in the name. Wells Fargo (WFC) Rises Higher Than Market: Key Facts
• Positive Sentiment: Investors are also weighing Wells Fargo’s valuation after a recent pullback, which may be drawing value-oriented buyers into the stock. Is Wells Fargo (WFC) Offering Value After Recent Share Price Pullback?
• Positive Sentiment: Wells Fargo is set to present at the Morgan Stanley U.S. Financials Conference next week, which keeps the company in focus and could provide fresh updates on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $79.43 on Wednesday. Wells Fargo & Company has a twelve month low of $71.93 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. The company has a 50-day simple moving average of $79.08 and a two-hundred day simple moving average of $84.84. The stock has a market capitalization of $243.07 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping 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 analysts' expectations of $21.85 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The business's revenue was up 6.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company's payout ratio is 27.78%.

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.