Wells Fargo & Company $WFC Shares Bought by Dorsey Wright & Associates

Dorsey Wright & Associates raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 27.6% in the first quarter, Holdings Channel.com reports. The fund owned 93,034 shares of the financial services provider’s stock after acquiring an additional 20,142 shares during the quarter. Dorsey Wright & Associates’ holdings in Wells Fargo & Company were worth $7,406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. California Public Employees Retirement System boosted its stake in shares of Wells Fargo & Company by 3.2% in the first quarter. California Public Employees Retirement System now owns 6,852,010 shares of the financial services provider’s stock worth $545,489,000 after acquiring an additional 215,578 shares during the last quarter. Quadrant Private Wealth Management LLC raised its stake in Wells Fargo & Company by 1.4% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 10,819 shares of the financial services provider’s stock valued at $861,000 after purchasing an additional 148 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in Wells Fargo & Company by 3.8% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 21,420 shares of the financial services provider’s stock valued at $1,696,000 after purchasing an additional 782 shares in the last quarter. MTM Investment Management LLC lifted its holdings in Wells Fargo & Company by 35.7% in the 1st quarter. MTM Investment Management LLC now owns 19,142 shares of the financial services provider’s stock valued at $1,524,000 after purchasing an additional 5,036 shares in the last quarter. Finally, Zhang Financial LLC boosted its stake in Wells Fargo & Company by 330.9% during the 1st quarter. Zhang Financial LLC now owns 10,739 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 8,247 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two 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 company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

Wells Fargo & Company Price Performance

Shares of WFC opened at $87.52 on Friday. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The stock has a market cap of $267.82 billion, a PE ratio of 12.72, a P/E/G ratio of 0.98 and a beta of 0.92. The firm has a 50-day simple moving average of $81.44 and a two-hundred day simple moving average of $83.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company 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 firm earned $1.39 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 7.12 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 26.16%.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

About Wells Fargo & Company

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.