Arsenal Capital Advisors LLC Takes $651,000 Position in Wells Fargo & Company $WFC

Arsenal Capital Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel.com reports. The fund bought 6,987 shares of the financial services provider’s stock, valued at approximately $651,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $27,000. 75.90% of the stock is owned by institutional investors.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts remain constructive on Wells Fargo after management offered a strong outlook, with coverage showing a majority Buy rating and implied upside to the shares. Street Bullish on Wells Fargo & Company (WFC) After CEO Offered Strong Outlook
• Positive Sentiment: Wells Fargo is also part of a planned shared tokenized deposit network led by The Clearing House, suggesting the bank is positioning itself for faster, blockchain-based payments and a new growth avenue. Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
• Neutral Sentiment: Coverage noting that Wells Fargo is a trending stock points to heightened investor attention, but it does not add new fundamentals by itself. Is Trending Stock Wells Fargo & Company (WFC) a Buy Now?
• Neutral Sentiment: Wells Fargo’s role in the tokenized-deposit network was reiterated in separate reports, reinforcing the strategic theme rather than signaling an immediate financial impact. Tokenized Deposits Set Up Banking’s Next Network Race

Wells Fargo & Company Trading Up 0.5%

Shares of WFC stock opened at $82.06 on Friday. Wells Fargo & Company has a 52-week low of $71.93 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50-day simple moving average of $79.20 and a two-hundred day simple moving average of $84.70. The company has a market capitalization of $251.13 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last issued 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 net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the prior year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Robert W. Baird upgraded Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Friday, February 13th. Morgan Stanley reduced their price target on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Piper Sandler reiterated an “overweight” rating and set a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Finally, HSBC upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, April 1st. Two 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.53.

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.