Gibbs Wealth Management Grows Stock Holdings in Wells Fargo & Company $WFC

Gibbs Wealth Management grew its holdings in Wells Fargo & Company (NYSE:WFC) by 74.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 31,592 shares of the financial services provider’s stock after acquiring an additional 13,514 shares during the period. Gibbs Wealth Management’s holdings in Wells Fargo & Company were worth $2,515,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WFC. Brighton Jones LLC lifted its holdings in shares of Wells Fargo & Company by 62.3% in the 4th 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 last quarter. Jump Financial LLC grew its position in Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after acquiring an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC increased its stake in 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 acquiring an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP increased its stake in Wells Fargo & Company by 5.4% during the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in Wells Fargo & Company by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 8,714 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. Barclays cut their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Truist Financial increased their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Keefe, Bruyette & Woods cut their price objective 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, July 15th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

Wells Fargo & Company Trading Down 0.2%

WFC opened at $86.24 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50 day moving average price is $82.46 and its 200-day moving average price is $83.48. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a market cap of $263.91 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.94 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo appointed Tom Nicholls to lead its Sports Investment Banking group, adding a specialist banker to expand advisory and deal-making capabilities in a niche area that could support fee growth. Wells Fargo (WFC) Appoints Tom Nicholls To Lead Sports Investment Banking
• Positive Sentiment: Several market articles noted that Wells Fargo is drawing increased investor attention and that Wall Street analysts remain broadly optimistic, which can help support sentiment around the stock. Wall Street Bulls Look Optimistic About Wells Fargo (WFC): Should You Buy?
• Positive Sentiment: Wells Fargo’s Innovation Incubator program highlighted the bank’s role in funding practical technology solutions for affordable housing and grid demand challenges, reinforcing its corporate and ESG-oriented brand. Innovation Incubator Program Drives Real-World Impact in Affordable Housing and Electrical Grid Demands
• Neutral Sentiment: MarketWatch highlighted a customer’s difficulty getting a larger credit limit for balance transfer debt, but this appears to be an isolated consumer complaint rather than a material company-level catalyst. I wanted to transfer $17,000 in credit-card debt. Why did Wells Fargo offer me only a $4,000 credit limit?

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.