Fidelis Capital Partners LLC Has $6.62 Million Stock Holdings in Wells Fargo & Company $WFC

Fidelis Capital Partners LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 77.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,018 shares of the financial services provider’s stock after buying an additional 31,080 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Wells Fargo & Company were worth $6,619,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the third quarter valued at $27,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company during the fourth quarter valued at $28,000. Imprint Wealth LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $31,000. Finally, Cloud Capital Management LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $37,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: CEO Charlie Scharf said Wells Fargo expects investment banking and trading revenue to grow by mid-teen percentages in the second quarter, signaling improving fee-based momentum and helping support the bank’s earnings outlook. Wells Fargo CEO sees mid-teens growth in investment banking, trading
• Positive Sentiment: Wells Fargo also highlighted mortgage incentives tied to ICON’s 3D-printed homes, showing efforts to expand lending opportunities and grow originations in niche housing markets. Wells Fargo to offer mortgage incentives on 3D printed homes with Icon
• Neutral Sentiment: The company presented at Bernstein’s Strategic Decisions Conference, which may have kept Wells Fargo in focus but did not by itself add a major new catalyst. Wells Fargo & Company (WFC) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript
• Neutral Sentiment: Several articles reiterated Wells Fargo as a dividend stock and discussed its longer-term recovery potential, but these were largely commentary pieces rather than new fundamental developments. Wells Fargo (WFC) is a Top Dividend Stock Right Now: Should You Buy?
• Negative Sentiment: Recent coverage noted that WFC shares have fallen sharply year to date and were down again after a six-day rally, suggesting investors are still wary about the stock’s near-term momentum. Wells Fargo (WFC) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: Investor attention also remains on Wells Fargo’s still-elevated legal and regulatory overhangs, including a reported $100 million settlement tied to struggling homebuyers. Wells Fargo settlement will pay 100M to help struggling homebuyers in 51 cities

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $76.02 on Thursday. Wells Fargo & Company has a fifty-two week low of $71.93 and a fifty-two week high of $97.76. The business has a 50-day moving average of $79.02 and a two-hundred day moving average of $85.03. The stock has a market capitalization of $232.65 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.91 and a beta of 0.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS 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 business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. Piper Sandler reissued 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. JPMorgan Chase & Co. cut 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 report on Thursday, April 30th. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, UBS Group reissued a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.53.

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.