Temasek Holdings Private Ltd Acquires 437,900 Shares of Wells Fargo & Company $WFC

Key Points

• Temasek Holdings boosted its Wells Fargo position by 40.3% in the fourth quarter, buying 437,900 additional shares and bringing its stake to 1,523,823 shares valued at about $142 million.
• Institutional investors remain heavily invested in the bank, with several other funds also increasing holdings and 75.9% of the stock currently owned by institutions.
• Analyst sentiment is generally positive: Wells Fargo has a Moderate Buy consensus rating with a $97.53 price target, while the stock recently traded at $83.18 and also pays a quarterly dividend yielding about 2.2%.

Temasek Holdings Private Ltd grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 40.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,523,823 shares of the financial services provider's stock after acquiring an additional 437,900 shares during the period. Temasek Holdings Private Ltd's holdings in Wells Fargo & Company were worth $142,020,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in 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 purchasing an additional 25,436 shares during the last quarter. Jump Financial LLC raised its position in Wells Fargo & Company by 12.9% during the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider's stock worth $1,835,000 after purchasing an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC raised its position in Wells Fargo & Company by 111.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider's stock worth $1,122,000 after purchasing an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP raised its position 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 purchasing an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position 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 purchasing an additional 8,714 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. KGI Securities lowered Wells Fargo & Company to a "hold" rating in a research report on Thursday, April 16th. Jefferies Financial Group assumed coverage on 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. Barclays lowered their target price on 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Finally, Evercore reiterated an "outperform" rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.53.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $83.18 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50-day moving average of $79.61 and a 200-day moving average of $84.65. The company has a market cap of $254.56 billion, a PE ratio of 12.84, a P/E/G ratio of 0.98 and a beta of 0.93. Wells Fargo & Company has a one year low of $72.30 and a one year high of $97.76.

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 the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.39 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

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.

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