Stevens Capital Management LP Raises Stake in Wells Fargo & Company $WFC

Stevens Capital Management LP raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 113.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,853 shares of the financial services provider's stock after buying an additional 14,774 shares during the period. Wells Fargo & Company comprises 0.9% of Stevens Capital Management LP's holdings, making the stock its 27th biggest holding. Stevens Capital Management LP's holdings in Wells Fargo & Company were worth $2,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Brighton Jones LLC grew its position in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC lifted its stake in Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock worth $1,835,000 after acquiring an additional 2,615 shares during the period. Main Street Financial Solutions LLC lifted its stake in Wells Fargo & Company by 111.0% in the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider's stock worth $1,122,000 after acquiring an additional 7,368 shares during the period. Vivaldi Capital Management LP grew its holdings in Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider's stock worth $259,000 after acquiring an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider's stock worth $2,044,000 after acquiring an additional 8,714 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $79.88 on Wednesday. Wells Fargo & Company has a one year low of $71.89 and a one year high of $97.76. The firm has a market cap of $244.45 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.93 and a beta of 0.96. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day simple moving average of $80.67 and a two-hundred day simple moving average of $86.16.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $11.62 billion for the quarter, compared to the consensus estimate 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. On average, equities analysts forecast that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company's payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WFC. Truist Financial reduced their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "buy" rating for the company in a report on Tuesday, March 17th. CICC Research started coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They set a "market perform" rating and a $96.00 price objective on the stock. HSBC raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price objective on the stock in a report on Wednesday, April 1st. Morgan Stanley lowered their target price on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Finally, TD Cowen dropped their target price on Wells Fargo & Company from $102.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $97.53.

Insider Transactions at Wells Fargo & Company

In other news, EVP Bridget E. Engle sold 30,000 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kleber Santos sold 25,000 shares of the business's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the transaction, the executive vice president owned 79,876 shares in the company, valued at approximately $7,006,722.72. This trade represents a 23.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 115,000 shares of company stock valued at $10,050,000. Corporate insiders own 0.14% of the company's stock.

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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