Wells Fargo & Company $WFC Shares Sold by Dorsey Wright & Associates

Key Points

• Dorsey Wright & Associates cut its Wells Fargo stake by 23.4% in the fourth quarter, selling 22,246 shares and leaving it with 72,892 shares valued at about $6.79 million.
• Wells Fargo reported Q1 earnings of $1.60 per share, beating estimates by $0.02, while revenue rose 6.4% year over year to $11.62 billion. Analysts currently have a Moderate Buy consensus with an average price target of $98.24.
• The bank recently paid a $0.45 quarterly dividend, equal to a 2.2% annualized yield, as the stock traded at $82.31 and remained below its 52-week high of $97.76.

Dorsey Wright & Associates trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 23.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,892 shares of the financial services provider's stock after selling 22,246 shares during the quarter. Wells Fargo & Company comprises 1.5% of Dorsey Wright & Associates' investment portfolio, making the stock its 20th biggest holding. Dorsey Wright & Associates' holdings in Wells Fargo & Company were worth $6,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Cambient Family Office LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $1,014,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $49,000. WealthPoint Financial LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $360,000. Van Diest Capital LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $767,000. Finally, Compound Planning Inc. grew its position in Wells Fargo & Company by 8.9% in the 4th quarter. Compound Planning Inc. now owns 45,287 shares of the financial services provider's stock valued at $4,221,000 after buying an additional 3,701 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.8%

WFC opened at $82.31 on Friday. 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 business has a 50 day simple moving average of $79.75 and a 200-day simple moving average of $84.60. The stock has a market capitalization of $251.89 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.98 and a beta of 0.93. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly 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. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WFC shares. JPMorgan Chase & Co. dropped their price objective on shares of Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Evercore restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. KGI Securities cut shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Morgan Stanley lowered their target price on shares of Wells Fargo & Company from $108.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a "buy" rating on the stock in a research note on Monday, March 23rd. Two equities research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $98.24.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
• Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
• Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
• Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
• Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets

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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