Freemont Management S.A. Buys 33,900 Shares of Wells Fargo & Company $WFC

Freemont Management S.A. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 258.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,000 shares of the financial services provider’s stock after purchasing an additional 33,900 shares during the quarter. Freemont Management S.A.’s holdings in Wells Fargo & Company were worth $3,742,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares during the period. Jump Financial LLC raised its position in shares of Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 2,615 shares during the period. Main Street Financial Solutions LLC raised its position in shares of Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 7,368 shares during the period. Vivaldi Capital Management LP lifted its holdings in shares of Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in shares of Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 8,714 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

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

Wells Fargo & Company Price Performance

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 company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $267.82 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 0.92. The firm’s fifty day moving average price is $81.44 and its two-hundred day moving average price is $83.77.

Wells Fargo & Company Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Barclays dropped their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 target price for the company. Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. 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 company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $98.50.

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.