Genus Capital Management Inc. Has $3.71 Million Stake in Wells Fargo & Company $WFC

Genus Capital Management Inc. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 328.0% during the fourth quarter, HoldingsChannel reports. The fund owned 39,800 shares of the financial services provider’s stock after buying an additional 30,500 shares during the period. Genus Capital Management Inc.’s holdings in Wells Fargo & Company were worth $3,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $27,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. Imprint Wealth LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $31,000. Finally, Cloud Capital Management LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $37,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on WFC shares. 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 note on Wednesday, April 1st. Piper Sandler reiterated 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 shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price target on the stock in a research note on Friday, February 13th. The Goldman Sachs Group lowered 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 note on Monday, March 23rd. Finally, Jefferies Financial Group started coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.53.

Wells Fargo & Company Stock Up 0.2%

Wells Fargo & Company stock opened at $76.52 on Monday. The firm has a market capitalization of $234.15 billion, a PE ratio of 11.81, a P/E/G ratio of 0.90 and a beta of 0.96. The company’s 50-day moving average is $78.92 and its 200-day moving average is $85.24. Wells Fargo & Company has a fifty-two week low of $71.89 and a fifty-two week 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 released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion for 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%. Wells Fargo & Company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. 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:

• Positive Sentiment: Wells Fargo launched Advisor Gateway, a new desktop platform for financial advisors that gives access to more than 200 tools and applications. Investors may see this as a sign the bank is investing in technology and advisor productivity, which could support fee growth and client retention. Wells Fargo & Company (WFC) Launches Advisor Gateway, Here’s What You Need to Know
• Positive Sentiment: Analysts and market commentary continue to frame WFC as undervalued, with cost cuts and efficiency improvements potentially helping the bank reach its 17%–18% ROTCE target. That supports the case for earnings leverage if management executes well. WFC’s Efficiency Story: Will Cost Cuts Lift ROTCE to Its Target Level?
• Positive Sentiment: Wall Street reaction to the recent $110 million discrimination settlement has been relatively muted to constructive, with commentary noting a buy-skewed analyst consensus and insider buying. That suggests investors may be looking past the legal overhang. Wall Street’s Verdict on Wells Fargo After the $110 Million Discrimination Settlement
• Neutral Sentiment: One article on Wells Fargo’s revised price target for Alphabet is only indirectly relevant to WFC and does not appear to be a direct driver of the stock today.
• Neutral Sentiment: Several repeat items discuss the same Advisor Gateway launch and efficiency/cost-cutting story, reinforcing the same theme rather than adding a new catalyst.

Insider Activity

In related news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares of the company’s stock, valued at $14,813,950.40. The trade was a 26.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.14% of the company’s stock.

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.