CWA Asset Management Group LLC decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 80.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,499 shares of the financial services provider’s stock after selling 58,454 shares during the period. CWA Asset Management Group LLC’s holdings in Wells Fargo & Company were worth $1,198,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Nixon Peabody Trust Co. boosted its holdings in shares of Wells Fargo & Company by 3.6% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 115 shares in the last quarter. Simmons Bank raised its holdings in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its holdings in Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares in the last quarter. Wood Tarver Financial Group LLC lifted its position in Wells Fargo & Company by 1.6% in the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 120 shares during the period. Finally, Mine & Arao Wealth Creation & Management LLC. lifted its position in Wells Fargo & Company by 0.4% in the fourth quarter. Mine & Arao Wealth Creation & Management LLC. now owns 32,410 shares of the financial services provider’s stock worth $3,021,000 after purchasing an additional 122 shares during the period. 75.90% of the stock is currently owned by institutional investors.
Wells Fargo & Company Stock Performance
Shares of Wells Fargo & Company stock opened at $88.96 on Thursday. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month 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 1.09. The stock has a market cap of $269.02 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The business has a fifty day simple moving average of $85.47 and a 200-day simple moving average of $83.05.
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 issued a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is currently 29.07%.
Analysts Set New Price Targets
A number of brokerages have issued reports on WFC. Robert W. Baird increased their price target 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. Bank of America boosted their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Morgan Stanley raised their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, UBS Group lowered their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.61.
Read Our Latest Research Report on WFC
Wells Fargo & Company News Summary
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Wells Fargo launched tokenized deposits for corporate and commercial customers, enabling 24/7 blockchain-based settlement while keeping funds within the insured banking system. The service could improve transaction speed, strengthen client relationships and create future payment-related revenue opportunities. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story (WFC)?
- Positive Sentiment: The tokenized-deposit initiative was presented as part of a wider effort to pair balance-sheet strength with new digital infrastructure. Investors may view the move as evidence that Wells Fargo is investing more aggressively in growth and modernizing its commercial-banking platform. Wells Fargo (WFC) Bets On Blockchain, But Can The Rally Continue?
- Neutral Sentiment: Wells Fargo issued callable, unsecured senior notes with maturities ranging from 2029 to 2051 and announced perpetual, non-cumulative depositary shares. The transactions can support funding and capital flexibility, but they also add financing obligations and do not immediately establish a material earnings benefit. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story (WFC)?
- Neutral Sentiment: Separate Wells Fargo commentary on NVIDIA’s artificial-intelligence infrastructure financing and Microsoft’s position as AI costs decline reflects the bank’s broader technology-sector research, but it does not materially change Wells Fargo’s own earnings outlook. Nvidia Is Going Beyond GPUs in the AI Boom, Wells Fargo Says
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.
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