QRG Capital Management Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 583,082 shares of the financial services provider’s stock after buying an additional 25,124 shares during the quarter. QRG Capital Management Inc.’s holdings in Wells Fargo & Company were worth $48,186,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in WFC. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Phillip James Consulting Co. bought a new position in shares of Wells Fargo & Company in the first quarter worth approximately $28,000. Security National Bank of Sioux City Iowa IA bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $28,000. Core Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $29,000. Finally, Main Street Group LTD purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
WFC has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of 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. Bank of America raised their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. 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. UBS Group dropped their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.08.
More Wells Fargo & Company News
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Senator Mitch McConnell disclosed a purchase of WFC stock. While the trade size and timing are not provided, congressional buying may be viewed as a modest confidence signal. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
- Neutral Sentiment: Wells Fargo named current Chief Operating Officer Scott Powell as its next chief risk officer. He will succeed Derek Flowers, who plans to retire in mid-January after nearly three decades at the bank. An internal succession could support continuity, although the departure of a long-serving risk executive warrants monitoring. Wells Fargo’s chief risk officer Derek Flowers to retire
- Neutral Sentiment: Analysts maintain a broadly favorable view of Wells Fargo, with the stock receiving an average “Moderate Buy” recommendation. However, the rating alone is unlikely to drive a major near-term move. Wells Fargo Given Average Recommendation of Moderate Buy
- Neutral Sentiment: The Federal Reserve’s latest rate hike could help Wells Fargo expand net interest income because loans may reprice at higher rates. However, rising deposit costs could limit the benefit and pressure margins. Fed Rate Hike: What it Means for Wells Fargo’s NII Outlook
- Negative Sentiment: Bank stocks, including WFC, declined as Meta’s Muse AI agent intensified fears that AI could eventually disrupt conventional banking, payments, and other financial services. The concern is sector-wide rather than specific to Wells Fargo, but it is weighing on investor sentiment today. Banking Giants Tumble as Meta’s AI Agent Triggers Disruption Concerns
Wells Fargo & Company Price Performance
WFC traded down $1.26 during trading on Wednesday, hitting $81.89. 14,614,033 shares of the company traded hands, compared to its average volume of 16,120,314. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The company has a market cap of $247.64 billion, a PE ratio of 11.90, a P/E/G ratio of 0.94 and a beta of 0.92. The stock’s 50-day simple moving average is $87.19 and its two-hundred day simple moving average is $82.85. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $21.86 billion. During the same quarter last year, the business posted $1.60 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 7.25 earnings per share for the current fiscal year.
Wells Fargo & Company Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.07%.
Wells Fargo & Company Company Profile
Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and wealth management services to consumers, businesses, and institutions. Its offerings include checking and savings accounts, credit cards, mortgages, auto loans, personal lending, commercial financing, and treasury management services.
The company operates through businesses that include consumer and small-business banking, commercial banking, corporate and investment banking, and wealth and investment management.
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