Wells Fargo & Company $WFC Stock Sold by Bank Pictet & Cie Europe AG

Key Points

• Bank Pictet & Cie Europe AG reduced its Wells Fargo stake by 4.6% in the third quarter, selling 32,051 shares and retaining 659,338 shares valued at approximately $52.8 million. Institutional investors collectively own 75.9% of WFC.
• Wells Fargo reported quarterly EPS of $1.87, slightly exceeding analyst expectations, while revenue of $21.87 billion fell short of estimates. The bank also raised its quarterly dividend to $0.50 per share, equivalent to a 2.4% yield.
• WFC traded near $81.74, below its 50-day and 200-day moving averages, while analysts maintained a “Moderate Buy” consensus with an average price target of $98.08.

Bank Pictet & Cie Europe AG lessened its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 4.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 659,338 shares of the financial services provider's stock after selling 32,051 shares during the period. Wells Fargo & Company accounts for approximately 1.0% of Bank Pictet & Cie Europe AG's portfolio, making the stock its 26th largest holding. Bank Pictet & Cie Europe AG's holdings in Wells Fargo & Company were worth $52,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Phillip James Consulting Co. purchased a new position in Wells Fargo & Company during the first quarter worth about $28,000. Security National Bank of Sioux City Iowa IA bought a new position in Wells Fargo & Company in the 2nd quarter worth about $28,000. Main Street Group LTD bought a new position in Wells Fargo & Company in the 1st quarter worth about $29,000. Dunhill Financial LLC bought a new position in Wells Fargo & Company in the 2nd quarter worth about $30,000. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

WFC stock traded down $0.06 during mid-day trading on Tuesday, hitting $81.74. 7,722,758 shares of the stock were exchanged, compared to its average volume of 16,150,498. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.90. The business has a fifty day moving average price of $85.14 and a 200 day moving average price of $83.36. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The stock has a market capitalization of $247.18 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.90 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The firm had revenue of $21.87 billion during the quarter, compared to analysts' expectations of $22.30 billion. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 7.28 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 7th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is presently 28.21%.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo plans to launch a stablecoin in the first half of 2027 for cross-border payments and digital-asset settlements. The initiative could strengthen the bank’s blockchain capabilities, create new payment opportunities and improve its competitive position in digital finance. Wells Fargo's Stablecoin Push: A Potential Edge in Digital Payments?
• Positive Sentiment: Wells Fargo provided or arranged $1.275 billion in senior secured financing for Belk. The transaction highlights the bank’s commercial-lending activity and could generate interest and fee income, although it also adds exposure to the retailer’s credit performance. Belk Secures $1.275 Billion in New Financing from Wells Fargo and Pathlight Capital
• Positive Sentiment: A bullish CNBC commentary argues that Wells Fargo’s turnaround still has momentum, potentially reinforcing investor interest in the bank’s recovery and capital-return story. Wells Fargo's comeback is just getting started
• Neutral Sentiment: Large banks are taking additional losses while resolving troubled commercial real-estate loans, but declining nonperforming and nonaccrual balances suggest that credit cleanup is progressing. The effect on WFC is mixed in the near term. Big Banks Take Bigger CRE Losses As They Clear Out Problem Loans
• Negative Sentiment: The NAHB/Wells Fargo Housing Market Index fell more than expected to 29, its lowest level in 14 years. Persistently weak builder sentiment may signal softer mortgage demand and broader housing-related pressure for Wells Fargo. U.S. Housing Market Index Drops To Fourteen-Year Low In October

Analysts Set New Price Targets

A number of analysts have recently issued reports on WFC shares. JPMorgan Chase & Co. dropped their price target on Wells Fargo & Company from $95.50 to $91.50 and set a "neutral" rating for the company in a research report on Friday, October 2nd. UBS Group decreased their price objective on shares of Wells Fargo & Company from $104.00 to $102.00 and set a "buy" rating on the stock in a research report on Monday, October 5th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $94.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Citigroup lowered their target price on shares of Wells Fargo & Company from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 14th. Finally, Morgan Stanley dropped their target price on shares of Wells Fargo & Company from $102.00 to $101.00 and set an "overweight" rating for the company in a research report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.08.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.

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