Wells Fargo & Company $WFC is Brandywine Global Investment Management LLC’s 4th Largest Position

Brandywine Global Investment Management LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,422,909 shares of the financial services provider’s stock after selling 34,624 shares during the quarter. Wells Fargo & Company makes up approximately 2.1% of Brandywine Global Investment Management LLC’s portfolio, making the stock its 4th biggest position. Brandywine Global Investment Management LLC’s holdings in Wells Fargo & Company were worth $319,015,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Core Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the third quarter worth approximately $27,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on WFC shares. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Robert W. Baird upgraded shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a research note on Friday, February 13th. Barclays lowered their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Finally, Morgan Stanley dropped their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently 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 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 Price Performance

Shares of NYSE WFC opened at $82.06 on Monday. The firm has a market capitalization of $251.13 billion, a P/E ratio of 12.66, a PEG ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a one year low of $71.93 and a one year high of $97.76. The company’s fifty day moving average is $79.20 and its two-hundred day moving average is $84.71. 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 (NYSE:WFC) last issued its 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. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Analysts forecast 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is presently 27.78%.

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.