Wells Fargo & Company $WFC Shares Purchased by Americana Partners LLC

Key Points

• Americana Partners LLC increased its stake in Wells Fargo by 16.4% in the fourth quarter, buying 22,646 additional shares and bringing its total holdings to 160,373 shares worth about $14.95 million.
• Wells Fargo reported better-than-expected earnings for the quarter, posting $1.60 EPS versus $1.58 expected, while revenue rose 6.4% year over year; analysts now expect full-year EPS of 6.82.
• The bank announced a quarterly dividend of $0.45 per share, equal to an annualized yield of about 2.4%, even as some executives sold shares and analysts maintained a generally bullish but mixed outlook.

Americana Partners LLC lifted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,373 shares of the financial services provider's stock after purchasing an additional 22,646 shares during the period. Americana Partners LLC's holdings in Wells Fargo & Company were worth $14,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital Research Global Investors increased its holdings in Wells Fargo & Company by 18.6% during the 3rd 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 acquiring an additional 5,584,930 shares in the last quarter. Danske Bank A S purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $215,638,000. M&G PLC increased its holdings in Wells Fargo & Company by 320.3% during the 3rd quarter. M&G PLC now owns 2,946,277 shares of the financial services provider's stock valued at $247,487,000 after acquiring an additional 2,245,307 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $173,651,000. Finally, Mawer Investment Management Ltd. purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $147,165,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.8%

NYSE WFC opened at $76.52 on Friday. The company's fifty day simple moving average is $78.92 and its 200-day simple moving average is $85.25. Wells Fargo & Company has a 52 week low of $71.89 and a 52 week high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The stock has a market cap of $234.15 billion, a P/E ratio of 11.81, a PEG ratio of 0.89 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 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 business had revenue of $11.62 billion for the quarter, compared to analysts' expectations of $21.85 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company's payout ratio is presently 27.78%.

Insiders Place Their Bets

In other news, EVP Ellen R. Patterson sold 60,000 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares of the company's stock, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 83,478 shares in the company, valued at $7,270,933.80. This represents a 26.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.14% of the company's stock.

Key Wells Fargo & Company News

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

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC's Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WFC shares. HSBC upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price target for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating for the company in a report on Thursday, April 30th. Piper Sandler reiterated an "overweight" rating and set a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Robert W. Baird upgraded shares of Wells Fargo & Company from an "underperform" rating to a "neutral" rating and set a $85.00 price target for the company in a report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $97.53.

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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