Wells Fargo & Company $WFC Stock Position Cut by Sirios Capital Management L P

Sirios Capital Management L P trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 384,031 shares of the financial services provider’s stock after selling 16,811 shares during the period. Wells Fargo & Company comprises approximately 4.2% of Sirios Capital Management L P’s holdings, making the stock its 3rd largest holding. Sirios Capital Management L P’s holdings in Wells Fargo & Company were worth $32,189,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $27,000. Marquette Asset Management LLC raised its holdings in Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at $30,000. Kilter Group LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at $31,000. Finally, Main Street Group LTD boosted 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 acquiring an additional 118 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. Argus lifted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. HSBC reissued a “hold” rating and issued a $74.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Finally, Wolfe Research restated an “outperform” rating and set a $109.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Thirteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.03.

Key Wells Fargo & Company News

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

• Positive Sentiment: Technically deeply oversold and analyst support could spark a relief bounce — MarketBeat notes WFC is trading well below recent highs, its RSI is in oversold territory, and several outlets/analysts maintain Outperform/Buy ratings and high price targets that imply significant upside if sentiment stabilizes. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold
• Positive Sentiment: Strategic optionality in digital assets — filings show Wells Fargo has applied for a WFUSD trademark covering stablecoins and blockchain payment services, signaling a possible future new revenue stream (still speculative and regulatory-dependent). Wells Fargo Submits WFUSD Trademark Application
• Neutral Sentiment: Active analyst research flow — Wells Fargo analysts continue to move ratings/targets across sectors (cuts on Aptiv, upgrades in chemicals, positive calls on travel and retail names). This shows robust research activity that can influence trading in other names but is not directly catalytic for WFC’s fundamentals. Wells Fargo Cuts Aptiv Price Target Wells Fargo Upgrades Chemical Stocks
• Negative Sentiment: Earnings, revenue and operational concerns remain — MarketBeat highlights that WFC missed revenue/earnings expectations in January, has a relatively high efficiency ratio vs. peers, and saw headline risk from reported exposure to the failed U.K. mortgage finance firm Market Financial Solutions; those issues help explain selling pressure and could limit near-term multiple expansion. Bargain Alert: Wells Fargo and Goldman Sachs Look Deeply Oversold

Wells Fargo & Company Stock Down 1.5%

Shares of NYSE:WFC opened at $74.11 on Friday. The stock has a market capitalization of $228.67 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.82 and a beta of 1.08. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The company’s fifty day moving average is $87.72 and its two-hundred day moving average is $86.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion for the quarter, compared to the consensus estimate of $21.63 billion. During the same period last year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 6th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value 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 $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company 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 completion of the transaction, the executive vice president owned 79,876 shares of the company’s stock, valued at approximately $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,000 shares of company stock valued at $10,050,000 over the last quarter. Insiders own 0.08% of the company’s stock.

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.