QRG Capital Management Inc. Has $48.19 Million Holdings in Wells Fargo & Company $WFC

QRG Capital Management Inc. raised its stake in Wells Fargo & Company (NYSE:WFC) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 583,082 shares of the financial services provider’s stock after purchasing an additional 25,124 shares during the period. QRG Capital Management Inc.’s holdings in Wells Fargo & Company were worth $48,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Miller Capital Partners Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $26,000. Joseph Group Capital Management bought a new position in Wells Fargo & Company during the fourth quarter valued at about $28,000. Finally, Phillip James Consulting Co. bought a new position in Wells Fargo & Company during the first quarter valued at about $28,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Investors have been rotating from high-flying artificial-intelligence stocks into financial shares, creating broader momentum for banks such as Wells Fargo. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s investment case is strengthened by the expected removal of its asset cap, potential net-interest-income growth and shareholder capital returns. The stock has gained 20.5% over three months, though investors are evaluating whether that momentum can continue. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Positive Sentiment: The bank’s tokenized-deposit launch for corporate and commercial clients could expand payment and settlement capabilities, while new debt and preferred-share offerings support its broader post-asset-cap investment strategy. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Bank of America lifted their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Stock Down 0.9%

Shares of WFC opened at $88.13 on Friday. The company has a market capitalization of $266.51 billion, a P/E ratio of 12.81, a PEG ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The business’s 50 day simple moving average is $85.60 and its 200-day simple moving average is $83.06. 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, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the firm posted $1.60 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is 29.07%.

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.