VIRGINIA RETIREMENT SYSTEMS ET Al Has $33.97 Million Stake in Wells Fargo & Company $WFC

Key Points

• Virginia Retirement Systems increased its Wells Fargo stake by 9.4% in the fourth quarter, bringing its holding to 364,500 shares valued at about $33.97 million.
• Analyst sentiment is broadly positive: HSBC upgraded Wells Fargo to Buy, while the consensus rating remains Moderate Buy with an average price target of $97.53.
• Wells Fargo reported $1.60 EPS for the latest quarter, beating estimates, and declared a quarterly dividend of $0.45 per share, or $1.80 annually for a 2.4% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364,500 shares of the financial services provider's stock after acquiring an additional 31,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Wells Fargo & Company were worth $33,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $27,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $30,000. Imprint Wealth LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $31,000. Finally, Main Street Group LTD increased its holdings in shares of Wells Fargo & Company by 36.9% during the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares during the period. Institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WFC shares. HSBC upgraded 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. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $101.00 to $98.00 and set a "market perform" rating on the stock in a report on Wednesday, April 15th. CICC Research started coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They set a "market perform" rating and a $96.00 price objective on the stock. KGI Securities cut shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Finally, Evercore reissued an "outperform" rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $97.53.

Insider Buying and Selling at Wells Fargo & Company

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

Wells Fargo & Company Stock Performance

NYSE WFC opened at $75.16 on Wednesday. The stock has a market cap of $229.99 billion, a P/E ratio of 11.60, a PEG ratio of 0.86 and a beta of 0.96. The company's 50-day simple moving average is $79.87 and its 200 day simple moving average is $85.89. Wells Fargo & Company has a twelve month low of $71.89 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.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analysts' expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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 given a $0.45 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Wells Fargo & Company's payout ratio is 27.78%.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Phillip Securities upgraded Wells Fargo to Buy with a $98 price target, adding to the bullish case that the stock may be undervalued after its recent decline. Phillip Securities Upgrades Wells Fargo & Company (WFC)
• Positive Sentiment: Another market note argued Wells Fargo could have roughly 16% upside over the next 12 months, suggesting investors are seeing value despite the recent selloff. Wells Fargo Set for 16% Upside Despite Recent Selloff
• Positive Sentiment: Recent coverage highlighted Wells Fargo’s renewed flexibility in capital markets, including fresh bond issuance and a larger common stock shelf registration, which could support funding and growth now that regulatory constraints have eased. Can Wells Fargo (WFC) Turn New Bond Issuance and Asset Cap Freedom Into Sustainable Growth?
• Neutral Sentiment: Wells Fargo’s own analysts’ work has also been in the spotlight through its research on Nvidia and broader AI-related names, but that is more of a reputation signal for the bank’s research franchise than a direct earnings driver for WFC. Top Wells Fargo Analyst Lifts Nvidia (NVDA) Stock Price Target Ahead of Q1 Earnings, Here’s Why
• Negative Sentiment: One headline from Wells Fargo’s research team warned that AI enthusiasm may be forming a bubble, implying some caution around the broader market backdrop even if the bank expects limited downside in the near term. Wells Fargo: AI is a ‘euphoric’ bubble and investors should ride it until it pops

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.

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