Birchwood Financial Partners Inc. Invests $671,000 in Wells Fargo & Company $WFC

Birchwood Financial Partners Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,200 shares of the financial services provider’s stock, valued at approximately $671,000.

Several other hedge funds have also recently bought and sold shares of WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $4,512,563,000. Capital Research Global Investors boosted its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after buying an additional 1,760,484 shares during the period. Legal & General Group Plc boosted its position 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 worth $1,975,600,000 after buying an additional 188,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Wells Fargo & Company by 13.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock worth $1,922,257,000 after buying an additional 2,369,260 shares in the last quarter. Finally, Boston Partners grew its holdings in Wells Fargo & Company by 5.2% in the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock worth $895,466,000 after buying an additional 477,745 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company News Roundup

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

• Positive Sentiment: The Federal Reserve’s move to soften Basel III capital requirements could be a meaningful tailwind for U.S. banks, including Wells Fargo, by easing regulatory pressure and potentially improving capital flexibility and returns. The Quiet Revolution at the Fed: The U.S. Banking Sector Received a Catalyst More Potent than Rate Cuts
• Positive Sentiment: Wells Fargo has been drawing investor attention as a trending stock, likely reflecting continued interest in the bank’s earnings outlook, valuation, and sector positioning. Here is What to Know Beyond Why Wells Fargo & Company (WFC) is a Trending Stock
• Neutral Sentiment: Wells Fargo Investment Institute’s midyear outlook emphasized discipline amid volatility and uncertainty, which is more of a market-commentary update than a direct catalyst for WFC shares. Wells Fargo Investment Institute: When Every Headline Shouts, Discipline Matters Most
• Neutral Sentiment: Wells Fargo also raised its S&P 500 year-end target on stronger earnings and easing macro risks, which supports a constructive market backdrop for financial stocks, though it is not specific to WFC’s fundamentals. US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks
• Negative Sentiment: Osaic said Signature Private Wealth Management left Wells Fargo Advisors Financial Network with more than $300 million in client assets, a small but notable advisor-asset outflow that could weigh on sentiment around Wells Fargo’s wealth management business. Osaic Welcomes Signature Private Wealth Management from Wells Fargo Advisors Financial Network with over $300 Million in Client Assets

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Jefferies Financial Group initiated coverage on Wells Fargo & Company in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price target for the company. Truist Financial lowered their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Piper Sandler restated an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Finally, Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.24.

Wells Fargo & Company Price Performance

NYSE WFC opened at $82.31 on Friday. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The firm has a market capitalization of $251.89 billion, a PE ratio of 12.70, a P/E/G ratio of 0.98 and a beta of 0.93. The company’s 50 day simple moving average is $79.75 and its 200 day simple moving average is $84.60. 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 released 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 firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 6.86 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

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.