Wells Fargo & Company $WFC Shares Purchased by MML Investors Services LLC

MML Investors Services LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 590,838 shares of the financial services provider’s stock after purchasing an additional 37,409 shares during the period. MML Investors Services LLC’s holdings in Wells Fargo & Company were worth $55,066,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Mill Creek Capital Advisors LLC boosted its stake in Wells Fargo & Company by 21.6% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 4,753 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 844 shares during the period. Evernest Financial Advisors LLC lifted its stake in shares of Wells Fargo & Company by 33.7% in the 4th quarter. Evernest Financial Advisors LLC now owns 7,238 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 1,823 shares during the period. Fort Point Capital Partners LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $509,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Wells Fargo & Company by 9.3% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,523,094 shares of the financial services provider’s stock worth $235,152,000 after acquiring an additional 214,280 shares during the period. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $77,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo was named the preferred mortgage lender for ICON’s 3D-printed homes, a partnership that could expand its role in affordable housing finance and create a new source of mortgage business. Wells Fargo Ties 3D Printed Home Lending To Housing Affordability Story
• Positive Sentiment: The arrangement with ICON highlights Wells Fargo’s push into innovative housing solutions, which may help support long-term mortgage origination growth if 3D-printed homebuilding gains traction. Wells Fargo Named as ICON Preferred Mortgage Lender to Support 3D‑Printed Homes
• Neutral Sentiment: Wells Fargo and the NAHB reported that U.S. homebuilder sentiment fell to 35 in June, reflecting pressure from elevated mortgage rates and higher materials costs. That is more a sign of a tougher housing market than a direct company-specific setback. U.S. Homebuilder Sentiment Slips as Mortgage Rates Remain Elevated
• Neutral Sentiment: Another NAHB/Wells Fargo survey showed homebuilder confidence weakening slightly more than expected in June, reinforcing the cautious backdrop for housing demand. U.S. Homebuilder Confidence Dips Slightly More Than Expected In June
• Negative Sentiment: Rising mortgage rates and softer builder sentiment could weigh on housing-related lending volumes, limiting near-term upside for Wells Fargo’s mortgage franchise. US Homebuilder Sentiment Falls, Driven by Drop in South

Wells Fargo & Company Stock Performance

Shares of WFC opened at $83.18 on Tuesday. The company has a 50-day simple moving average of $79.61 and a 200-day simple moving average of $84.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $254.56 billion, a PE ratio of 12.84, a P/E/G ratio of 0.98 and a beta of 0.93. Wells Fargo & Company has a 52-week low of $72.30 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating 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 net margin of 17.26% and a return on equity of 13.27%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 EPS. Equities research analysts predict that Wells Fargo & Company will post 6.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

Analyst Ratings Changes

Several analysts have recently commented on WFC shares. 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. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday. Keefe, Bruyette & Woods reduced their target price on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Finally, Barclays reduced their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $97.53.

Wells Fargo & 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.