Yacktman Asset Management LP Sells 23,693 Shares of Wells Fargo & Company $WFC

Key Points

• Yacktman Asset Management cut its Wells Fargo stake by 18.8% in the fourth quarter, selling 23,693 shares and leaving it with 102,319 shares worth about $9.54 million.
• Wells Fargo reported better-than-expected quarterly EPS of $1.60, though revenue came in well below analyst estimates despite being up 6.4% year over year.
• The bank declared a quarterly dividend of $0.45 per share and analysts currently see a consensus Moderate Buy rating with a $97.53 price target.

Yacktman Asset Management LP reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,319 shares of the financial services provider's stock after selling 23,693 shares during the quarter. Yacktman Asset Management LP's holdings in Wells Fargo & Company were worth $9,536,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Private Wealth Group LLC increased its stake in Wells Fargo & Company by 2.5% during the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider's stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its stake in Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 117 shares in the last quarter. Main Street Group LTD increased its stake in 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 valued at $37,000 after purchasing an additional 118 shares in the last quarter. D Orazio & Associates Inc. increased its stake in Wells Fargo & Company by 3.6% during the 3rd quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 118 shares in the last quarter. Finally, Stonebrook Private Inc. increased its stake in Wells Fargo & Company by 2.7% during the 3rd quarter. Stonebrook Private Inc. now owns 4,511 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 118 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $75.57 on Friday. The company has a 50 day moving average price of $80.47 and a 200-day moving average price of $86.11. Wells Fargo & Company has a 52 week low of $71.89 and a 52 week high of $97.76. The firm has a market capitalization of $231.26 billion, a PE ratio of 11.66, a P/E/G ratio of 0.93 and a beta of 0.96. 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 announced its quarterly 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 firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Wells Fargo & Company from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. KGI Securities lowered shares of Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Piper Sandler reiterated an "overweight" rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. UBS Group reiterated a "buy" rating and issued a $113.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Finally, CICC Research started coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a "market perform" rating and a $96.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.53.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: Phillip Securities upgraded Wells Fargo & Company (WFC) from “moderate buy” to “strong-buy,” reinforcing the view that the bank’s turnaround and earnings strength still have room to run.
• Positive Sentiment: Market commentary noted that Wells Fargo’s comeback looks real, supported by accelerating loan growth, rising shareholder returns, and stronger customer activity, which could help sustain investor confidence. Wells Fargo’s Comeback Is Real—But Not Risk-Free
• Positive Sentiment: Additional article coverage framed WFC as a potentially attractive dividend stock, which may appeal to income-focused investors looking for a large-cap financial name with improving fundamentals. Wells Fargo (WFC) Could Be a Great Choice
• Neutral Sentiment: There was also heavy put option activity in Wells Fargo, with traders buying 82,048 puts versus a typical volume of 59,215, suggesting some hedging or bearish positioning despite the recent positive coverage.
• Neutral Sentiment: Separately, Wells Fargo has been active on the research side across other stocks, including a downgrade of Nike and higher price targets on Arm Holdings, but those calls are not direct catalysts for WFC shares.

Insider Buying and Selling

In related news, EVP Kleber Santos sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the transaction, the executive vice president owned 79,876 shares of the company's stock, valued at approximately $7,006,722.72. This trade represents a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Bridget E. Engle sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was 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 directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 115,000 shares of company stock valued at $10,050,000. 0.14% of the stock is owned by insiders.

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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