Wells Fargo & Company $WFC Shares Purchased by Mosaic Family Wealth Partners LLC

Mosaic Family Wealth Partners LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 112.8% in the 1st quarter, Holdings Channel reports. The firm owned 11,900 shares of the financial services provider’s stock after purchasing an additional 6,309 shares during the quarter. Mosaic Family Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Keefe, Bruyette & Woods reduced 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. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group dropped their target price on 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, Barclays cut 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.34.

Wells Fargo & Company Trading Up 1.6%

Shares of WFC stock opened at $86.91 on Friday. The stock has a 50-day simple moving average of $80.55 and a 200 day simple moving average of $84.01. The stock has a market capitalization of $265.96 billion, a P/E ratio of 13.41, a P/E/G ratio of 0.98 and a beta of 0.92. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12.

Wells Fargo & Company (NYSE:WFC) last issued 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 net margin of 17.26% and a return on equity of 13.27%. The company 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 company earned $1.39 EPS. Wells Fargo & Company’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts expect that Wells Fargo & Company will post 6.99 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts expect Wells Fargo’s Q2 results to benefit from stronger net interest income and fee income, which could support earnings growth when the bank reports next week.
• Positive Sentiment: Recent analyst coverage remains constructive, with Wells Fargo carrying a consensus “moderate buy” rating, helping reinforce investor confidence. Wells Fargo & Company (NYSE:WFC) Given Consensus Rating of “Moderate Buy” by Analysts
• Neutral Sentiment: Wells Fargo shares also benefited from a broader market uptrend, with the latest trading-session articles noting the stock outperformed the market overall. Wells Fargo (WFC) Beats Stock Market Upswing: What Investors Need to Know
• Neutral Sentiment: Investors are also focused on the company’s Q2 outlook and key operating metrics, but those details are mainly setting expectations rather than changing the near-term story. Unveiling Wells Fargo (WFC) Q2 Outlook: Wall Street Estimates for Key Metrics
• Negative Sentiment: One article highlighted that Wells Fargo’s savings accounts may offer very low yields, which could remind customers to move deposits elsewhere and create a mild reputational headwind. Have Savings at Chase, Wells Fargo, or Bank of America? Why You May Want to Move It

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.