Integrated Investment Consultants LLC Acquires 9,303 Shares of Wells Fargo & Company $WFC

Integrated Investment Consultants LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 96.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,913 shares of the financial services provider’s stock after buying an additional 9,303 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Wells Fargo & Company were worth $1,763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Navalign LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter worth about $27,000. Joseph Group Capital Management purchased a new position in Wells Fargo & Company in the fourth quarter worth about $28,000. Grey Fox Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new position in Wells Fargo & Company in the third quarter worth about $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WFC shares. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. JPMorgan Chase & Co. lowered their price objective on 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. Barclays lowered their price target on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. 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 report on Wednesday, April 15th. Finally, KGI Securities cut Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.53.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $73.46 on Monday. 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 has a 1 year low of $71.89 and a 1 year high of $97.76. The stock’s 50 day simple moving average is $79.30 and its two-hundred day simple moving average is $85.63. The company has a market cap of $224.79 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.86 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $21.85 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Wells Fargo & Company’s payout ratio is presently 27.78%.

Wells Fargo & Company News Summary

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

• Negative Sentiment: JPMorgan reiterated a Hold rating on Wells Fargo and cut its price target to $86.50 from $91, reinforcing a more cautious near-term outlook for the stock. Wells Fargo (WFC) Stock Expected To Stay Under Pressure In The Short Term
• Neutral Sentiment: Wells Fargo announced cash dividends on six series of preferred stock, a routine capital return update that should not materially change the near-term outlook for common shares. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
• Neutral Sentiment: Commentary around Wells Fargo’s post-earnings performance noted that the stock remains below its recent levels after the company’s latest results, with investors still assessing whether revenue growth can offset higher compensation and technology costs. Wells Fargo Revenues Are Rising, But Can It Bend the Cost Curve?
• Neutral Sentiment: Wells Fargo’s economists changed their view on the timing of the next Fed rate cut, highlighting uncertainty around inflation and interest-rate expectations that could influence bank earnings and net interest income. Wells Fargo sees writing on the wall about the next Fed rate cut
• Negative Sentiment: Broader financial stocks weakened in the latest session, which may be adding pressure to Wells Fargo as part of a sector-wide move lower. Sector Update: Financial Stocks Fall Wednesday

Insiders Place Their Bets

In other news, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president directly owned 169,496 shares in the company, valued at approximately $14,813,950.40. This represents a 26.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,000 shares of company stock valued at $10,050,000 in the last quarter. 0.14% of the stock is currently owned by insiders.

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.