Wells Fargo & Company $WFC Shares Purchased by Zhang Financial LLC

Zhang Financial LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 330.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,739 shares of the financial services provider’s stock after purchasing an additional 8,247 shares during the quarter. Zhang Financial LLC’s holdings in Wells Fargo & Company were worth $855,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WFC. Private Wealth Group LLC boosted its holdings in Wells Fargo & Company by 2.5% during the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 108 shares during the period. Nixon Peabody Trust Co. grew 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 purchasing an additional 115 shares in the last quarter. Simmons Bank increased its stake in Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after buying an additional 116 shares during the period. Moss Adams Wealth Advisors LLC increased its stake in Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 117 shares during the period. Finally, Wood Tarver Financial Group LLC lifted its holdings in Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after buying an additional 120 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Robert W. Baird upped their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial increased their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Barclays lowered their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company News Summary

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 Stock Down 0.6%

Shares of Wells Fargo & Company stock opened at $87.52 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a market capitalization of $267.82 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 0.92. The company has a 50 day moving average of $81.44 and a 200 day moving average of $83.77.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 26.16%.

Wells Fargo & Company 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.