Vise Technologies Inc. Buys 33,245 Shares of Wells Fargo & Company $WFC

Key Points

• Vise Technologies Inc. boosted its Wells Fargo stake by 41.4% in the fourth quarter, adding 33,245 shares and bringing its total holdings to 113,487 shares worth about $10.6 million.
• Institutional ownership remains heavy in Wells Fargo, with large investors like Norges Bank and Capital Research Global Investors also increasing or initiating positions; overall, institutions and hedge funds own 75.9% of the stock.
• Analyst sentiment is mostly positive despite some lowered price targets: Wells Fargo has a Moderate Buy consensus rating with a $97.53 average price target, while recent quarterly earnings topped EPS estimates and the stock was trading up 3.6% at $81.50.

Vise Technologies Inc. raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,487 shares of the financial services provider's stock after acquiring an additional 33,245 shares during the quarter. Vise Technologies Inc.'s holdings in Wells Fargo & Company were worth $10,577,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $4,512,563,000. Capital Research Global Investors increased its stake in shares of Wells Fargo & Company by 18.6% in the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider's stock valued at $2,989,104,000 after buying an additional 5,584,930 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider's stock valued at $1,975,600,000 after buying an additional 188,186 shares in the last quarter. Boston Partners increased its stake in shares of Wells Fargo & Company by 1.9% in the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider's stock valued at $763,675,000 after buying an additional 174,350 shares in the last quarter. Finally, Davis Selected Advisers increased its stake in shares of Wells Fargo & Company by 6.1% in the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider's stock valued at $769,649,000 after buying an additional 471,979 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, May 7th. 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 note on Wednesday, April 15th. Morgan Stanley lowered their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group assumed coverage on Wells Fargo & Company in a report on Thursday, March 26th. They set a "buy" rating and a $100.00 price objective on the stock. Two analysts have 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.53.

Wells Fargo & Company Trading Up 3.6%

Shares of Wells Fargo & Company stock opened at $81.50 on Friday. Wells Fargo & Company has a 12-month low of $71.93 and a 12-month high of $97.76. The stock has a market cap of $249.41 billion, a P/E ratio of 12.58, a P/E/G ratio of 0.92 and a beta of 0.93. 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 business's 50 day moving average is $79.16 and its 200-day moving average is $84.72.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced 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 return on equity of 13.27% and a net margin of 17.26%.The company had revenue of $11.62 billion for the quarter, compared to analysts' expectations of $21.85 billion. During the same quarter in the prior year, the business posted $1.39 EPS. The business's revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend yield of 2.2%. Wells Fargo & Company's dividend payout ratio is currently 27.78%.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Several reports said Wall Street remains bullish on Wells Fargo after the CEO offered a strong outlook, with 69% of covering analysts rating the stock a Buy and the average price target implying substantial upside. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Bank of America said Wells Fargo shares may be at an attractive entry point, arguing that the stock’s recent pullback looks larger than the deterioration in fundamentals and could appeal to value-focused investors. Wells Fargo shares at attractive entry point amid execution concerns
• Positive Sentiment: Investor interest has also picked up, with Zacks noting WFC has become a trending stock as market participants look for a buy case in the shares. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo also drew attention for consumer-focused homebuying research and broader financial wellness commentary, but these items are more informational than directly material to near-term earnings. Are You Ready to Buy a Home? Wells Fargo Finds Most Prospective First-Time Buyers Aren't and Don't Know It

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.

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.