Fifth Third Wealth Advisors LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,141 shares of the financial services provider’s stock after selling 6,564 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $6,953,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Navalign LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $26,000. Joseph Group Capital Management bought a new position in Wells Fargo & Company during the 4th quarter valued at about $28,000. Finally, Phillip James Consulting Co. acquired a new position in Wells Fargo & Company in the first quarter valued at about $28,000. 75.90% of the stock is owned by institutional investors.
Trending Headlines about Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Wells Fargo declared quarterly cash dividends on six series of preferred stock. The announcement provides clarity for income-focused investors and signals that the bank continues to support its preferred-capital structure. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
- Positive Sentiment: Recent analysis suggests WFC could be about 10% undervalued despite strong gains over the past three months, supporting the view that valuation may still leave room for additional appreciation. Wells Fargo Could Be 10% Undervalued After Preferred Dividend Declaration
- Positive Sentiment: Investors have been rotating from weaker-performing artificial-intelligence stocks into financials, creating a favorable sector backdrop for Wells Fargo and other banks. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
- Positive Sentiment: Wells Fargo’s latest earnings exceeded expectations, with $1.96 in earnings per share and $22.62 billion in revenue, while revenue grew 8.6% year over year. Analysts continue to focus on potential net-interest-income growth, asset-cap removal and increased capital returns. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
- Neutral Sentiment: The bank is expanding its post-asset-cap strategy through tokenized deposits for corporate clients and new long-term debt and depositary-share offerings. The initiatives could improve payment capabilities and investment capacity, but their financial impact remains uncertain. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?
- Negative Sentiment: After a roughly 20% three-month advance, valuation and profit-taking risks could limit near-term upside, making investors more sensitive to execution on growth and regulatory milestones. Why Is Wells Fargo Up Since Last Earnings Report?
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on WFC
Wells Fargo & Company Price Performance
WFC opened at $88.74 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $268.34 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. The company’s 50 day simple moving average is $85.73 and its 200-day simple moving average is $83.10. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the company posted $1.60 EPS. Wells Fargo & Company’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.
Wells Fargo & Company Increases Dividend
The company 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 is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s payout ratio is 29.07%.
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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