Dynasty Wealth Management LLC Has $3.61 Million Stock Holdings in Wells Fargo & Company $WFC

Dynasty Wealth Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,723 shares of the financial services provider’s stock after purchasing an additional 7,376 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,609,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $4,512,563,000. Capital Research Global Investors boosted its stake in shares of Wells Fargo & Company by 18.6% during the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock valued at $2,989,104,000 after purchasing an additional 5,584,930 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after purchasing an additional 188,186 shares in the last quarter. Boston Partners boosted its stake in shares of Wells Fargo & Company by 1.9% during the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock valued at $763,675,000 after purchasing an additional 174,350 shares in the last quarter. Finally, Davis Selected Advisers boosted its stake in shares of Wells Fargo & Company by 6.1% during the fourth quarter. Davis Selected Advisers now owns 8,258,031 shares of the financial services provider’s stock valued at $769,649,000 after purchasing an additional 471,979 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent research reports. Truist Financial cut their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, April 1st. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, 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: Wells Fargo shares rose as recent market commentary highlighted the stock’s recent strength versus the broader market, reinforcing momentum in the name. Wells Fargo (WFC) Rises Higher Than Market: Key Facts
• Positive Sentiment: Investors are also weighing Wells Fargo’s valuation after a recent pullback, which may be drawing value-oriented buyers into the stock. Is Wells Fargo (WFC) Offering Value After Recent Share Price Pullback?
• Positive Sentiment: Wells Fargo is set to present at the Morgan Stanley U.S. Financials Conference next week, which keeps the company in focus and could provide fresh updates on strategy and outlook. Wells Fargo to Present at the Morgan Stanley U.S. Financials Conference

Wells Fargo & Company Trading Up 2.9%

Shares of WFC stock opened at $79.43 on Wednesday. The company has a market cap of $243.07 billion, a P/E ratio of 12.26, a PEG ratio of 0.90 and a beta of 0.93. The stock has a 50 day simple moving average of $79.08 and a two-hundred day simple moving average of $84.84. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a fifty-two week low of $71.93 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.39 earnings per share. Research analysts forecast that Wells Fargo & Company will post 6.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

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.