Erste Asset Management GmbH Grows Holdings in Wells Fargo & Company $WFC

Erste Asset Management GmbH raised its position in Wells Fargo & Company (NYSE:WFC) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,621 shares of the financial services provider’s stock after purchasing an additional 10,667 shares during the period. Erste Asset Management GmbH’s holdings in Wells Fargo & Company were worth $19,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $4,512,563,000. Capital Research Global Investors lifted its stake in Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares during the last quarter. Legal & General Group Plc lifted its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after buying an additional 188,186 shares during the last quarter. Boston Partners lifted its stake in Wells Fargo & Company by 1.9% in the third quarter. Boston Partners now owns 9,128,470 shares of the financial services provider’s stock valued at $763,675,000 after buying an additional 174,350 shares during the last quarter. Finally, Davis Selected Advisers increased 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 valued at $769,649,000 after purchasing an additional 471,979 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Wells Fargo is included in a planned tokenized deposit network with JPMorgan, Bank of America and Citigroup, a move that could help large banks compete with stablecoins and improve payments infrastructure by 2027. Big Banks Eye Tokenized Deposits as Stablecoin Competition Heats Up
• Positive Sentiment: Analysts remain constructive on WFC, with Bank of America Securities reiterating a Buy rating and an unchanged $95 price target, citing attractive risk/reward. Wells Fargo: Buy Rating Reiterated as Analyst Sees Attractive Risk‑Reward with Unchanged $95 Price Target
• Positive Sentiment: Some commentary says Wells Fargo looks more attractive as recession fears ease, which supports the bank’s earnings outlook and broader sector sentiment. Wells Fargo (WFC) Looks Attractive as Recession Fears Ease

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a research note on Saturday. 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 report on Friday, February 13th. Jefferies Financial Group started coverage on Wells Fargo & Company in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. Finally, KGI Securities lowered Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Two 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $80.95 on Tuesday. The business has a fifty day simple moving average of $79.24 and a 200 day simple moving average of $84.69. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $247.71 billion, a price-to-earnings ratio of 12.49, 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.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 6.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend 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 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.