VIRGINIA RETIREMENT SYSTEMS ET Al Has $33.97 Million Stake in Wells Fargo & Company $WFC

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,500 shares of the financial services provider’s stock after purchasing an additional 31,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Wells Fargo & Company were worth $33,971,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WFC. Redmont Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $27,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $28,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $30,000. Imprint Wealth LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $31,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $37,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were 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 in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the sale, the executive vice president owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,000 shares of company stock worth $10,050,000 over the last ninety days. Company insiders own 0.14% of the company’s stock.

Wells Fargo & Company Stock Up 2.1%

Shares of NYSE:WFC opened at $75.16 on Wednesday. Wells Fargo & Company has a 52 week low of $71.89 and a 52 week high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $229.99 billion, a PE ratio of 11.60, a PEG ratio of 0.86 and a beta of 0.96. The company has a 50 day moving average price of $79.87 and a two-hundred day moving average price of $85.89.

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, beating 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 firm had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

Wells Fargo & Company News Summary

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

• Positive Sentiment: Phillip Securities upgraded Wells Fargo to Buy with a $98 price target, adding to the bullish case that the stock may be undervalued after its recent decline. Phillip Securities Upgrades Wells Fargo & Company (WFC)
• Positive Sentiment: Another market note argued Wells Fargo could have roughly 16% upside over the next 12 months, suggesting investors are seeing value despite the recent selloff. Wells Fargo Set for 16% Upside Despite Recent Selloff
• Positive Sentiment: Recent coverage highlighted Wells Fargo’s renewed flexibility in capital markets, including fresh bond issuance and a larger common stock shelf registration, which could support funding and growth now that regulatory constraints have eased. Can Wells Fargo (WFC) Turn New Bond Issuance and Asset Cap Freedom Into Sustainable Growth?
• Neutral Sentiment: Wells Fargo’s own analysts’ work has also been in the spotlight through its research on Nvidia and broader AI-related names, but that is more of a reputation signal for the bank’s research franchise than a direct earnings driver for WFC. Top Wells Fargo Analyst Lifts Nvidia (NVDA) Stock Price Target Ahead of Q1 Earnings, Here’s Why
• Negative Sentiment: One headline from Wells Fargo’s research team warned that AI enthusiasm may be forming a bubble, implying some caution around the broader market backdrop even if the bank expects limited downside in the near term. Wells Fargo: AI is a ‘euphoric’ bubble and investors should ride it until it pops

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WFC shares. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Barclays reduced their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Freedom Capital lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Morgan Stanley cut 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 report on Tuesday, March 31st. Finally, CICC Research initiated coverage on shares of Wells Fargo & Company in a report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective on the stock. Two research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.53.

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.