Keudell Morrison Wealth Management Purchases New Stake in Wells Fargo & Company $WFC

Keudell Morrison Wealth Management purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,227 shares of the financial services provider’s stock, valued at approximately $1,046,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in Wells Fargo & Company by 18.6% in 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 acquiring an additional 5,584,930 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Wells Fargo & Company by 1.9% during the third quarter. Legal & General Group Plc now owns 21,009,237 shares of the financial services provider’s stock worth $1,760,994,000 after purchasing an additional 399,088 shares during the period. Boston Partners raised its holdings 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 worth $763,675,000 after purchasing an additional 174,350 shares during the period. Davis Selected Advisers raised its holdings 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 worth $769,649,000 after purchasing an additional 471,979 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Wells Fargo & Company by 8.5% during the third quarter. California Public Employees Retirement System now owns 6,726,087 shares of the financial services provider’s stock worth $563,781,000 after purchasing an additional 529,305 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.1%

Wells Fargo & Company stock opened at $75.90 on Friday. The company has a 50-day simple moving average of $78.92 and a 200-day simple moving average of $85.31. The firm has a market capitalization of $232.27 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.89 and a beta of 0.96. 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 one year low of $71.89 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. The business had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Insider Activity

In other news, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the completion of the transaction, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. This trade represents a 26.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares of the company’s stock, valued at approximately $14,813,950.40. This trade represents a 26.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WFC shares. Barclays dropped their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Piper Sandler reissued an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

More Wells Fargo & Company News

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

• Positive Sentiment: Analysts highlighted Wells Fargo’s cost-cutting efforts and improving efficiency metrics, saying they could help the bank move closer to its 17%-18% ROTCE target, which supports the long-term earnings story. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street’s read on the $110 million discrimination settlement was constructive, with analysts still favoring the stock and insiders reportedly buying into the news, suggesting the legal issue may be more manageable than feared. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Positive Sentiment: Another market note said Wells Fargo has received an average brokerage recommendation of “Moderate Buy,” reinforcing the idea that sentiment remains favorable despite recent headlines. Wells Fargo & Company (NYSE:WFC) Given Average Recommendation of “Moderate Buy” by Brokerages
• Neutral Sentiment: Wells Fargo agreed to create a $100 million mortgage assistance fund as part of a discrimination lawsuit settlement, which removes some legal uncertainty but also underscores ongoing reputational and compliance costs. Wells Fargo Settlement Fund Reshapes Legal Overhang And Mortgage Growth Story
• Neutral Sentiment: Wells Fargo also trimmed Meta Platforms’ price target slightly while keeping an Overweight rating, a reminder that the bank’s research franchise remains active but this item is not directly tied to WFC’s own fundamentals. Wells Fargo Trims Meta Platforms Price Target to $765: Why the AI Infrastructure Bet Still Has Believers

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.