BI Asset Management Fondsmaeglerselskab A S Has $44.40 Million Position in Wells Fargo & Company $WFC

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 55.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 476,406 shares of the financial services provider’s stock after purchasing an additional 170,396 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Wells Fargo & Company were worth $44,401,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $4,512,563,000. Capital Research Global Investors grew its holdings in shares of Wells Fargo & Company by 18.6% during the third quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider’s stock worth $2,989,104,000 after buying an additional 5,584,930 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Wells Fargo & Company by 177.7% during the fourth quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider’s stock worth $454,455,000 after buying an additional 3,120,399 shares in the last quarter. Danske Bank A S bought a new position in shares of Wells Fargo & Company during the third quarter worth about $215,638,000. Finally, M&G PLC grew its holdings in shares of Wells Fargo & Company by 320.3% during the third quarter. M&G PLC now owns 2,946,277 shares of the financial services provider’s stock worth $247,487,000 after buying an additional 2,245,307 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Robert W. Baird upgraded Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target for the company in a research note on Friday, February 13th. Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods cut their price objective on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research report on Wednesday, April 15th. Finally, Morgan Stanley cut their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Stock Performance

WFC opened at $82.06 on Friday. The business has a fifty day simple moving average of $79.20 and a 200 day simple moving average of $84.70. The company has a market capitalization of $251.13 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a 1 year low of $71.93 and a 1 year high of $97.76. 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 announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. Research analysts expect that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

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 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.