Wells Fargo & Company $WFC Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 85.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,415 shares of the financial services provider’s stock after selling 321,234 shares during the quarter. Picton Mahoney Asset Management’s holdings in Wells Fargo & Company were worth $4,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the period. Convergence Financial LLC boosted its holdings in shares of Wells Fargo & Company by 8.0% in the second quarter. Convergence Financial LLC now owns 3,636 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 268 shares in the last quarter. SP Asset Management LLC boosted its holdings in shares of Wells Fargo & Company by 0.6% in the second quarter. SP Asset Management LLC now owns 273,798 shares of the financial services provider’s stock valued at $21,937,000 after acquiring an additional 1,543 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Wells Fargo & Company by 5.6% during the second quarter. Atlantic Union Bankshares Corp now owns 188,698 shares of the financial services provider’s stock worth $15,118,000 after acquiring an additional 9,956 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its holdings in Wells Fargo & Company by 4.7% during the second quarter. Resona Asset Management Co. Ltd. now owns 1,099,388 shares of the financial services provider’s stock worth $87,981,000 after purchasing an additional 48,882 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 completion of the transaction, the executive vice president owned 169,496 shares in the company, valued at approximately $14,813,950.40. The trade was a 26.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bridget E. Engle sold 30,000 shares of the company’s 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 directly owned 83,478 shares in the company, valued at $7,270,933.80. This trade represents a 26.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,000 shares of company stock worth $10,050,000 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $82.07 on Friday. The firm has a market capitalization of $253.24 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50 day simple moving average is $89.76 and its 200-day simple moving average is $86.51. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. The firm had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.Wells Fargo & Company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were paid 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 of this dividend was Friday, February 6th. Wells Fargo & Company’s payout ratio is 28.71%.

Key Wells Fargo & Company News

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

• Positive Sentiment: Fed ends the 2018 enforcement order, removing a decade‑long regulatory constraint and reputational overhang that had limited management flexibility on capital returns and growth initiatives — a material structural positive for WFC going forward. Wells Fargo shakes off last Fed consent order Wells Fargo fully sheds Fed’s 2018 enforcement order
• Neutral Sentiment: Multiple outlets confirm the termination (MSN, Seeking Alpha, TMCNet), providing wide coverage but little immediate financial detail; this is a catalytic governance/regulatory development whose full capital‑allocation benefits will show up over quarters. Seeking Alpha: Fed board ends 2018 enforcement action
• Negative Sentiment: Shares slipped amid a broader market selloff tied to escalating conflict in the Middle East and higher mortgage rates (which can hurt mortgage origination volumes and bank trading sentiment); that risk‑off tone is the main reason WFC moved lower today despite the regulatory win. Yahoo Finance Market Minute: Mortgage rates tick up, Fed lifts 2018 enforcement on Wells Fargo
• Negative Sentiment: Political and crypto‑industry headlines calling out banks (social media/pundit commentary) create noise that can exacerbate short‑term sentiment swings, though they are unlikely to change fundamentals. Eric Trump attacks banks over stablecoin yields

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Argus raised their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. TD Cowen reduced their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Freedom Capital downgraded Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $113.00 price objective on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.03.

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.