Waddell & Associates LLC Has $1.39 Million Stock Holdings in Wells Fargo & Company $WFC

Waddell & Associates LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 64.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,773 shares of the financial services provider’s stock after purchasing an additional 6,552 shares during the quarter. Waddell & Associates LLC’s holdings in Wells Fargo & Company were worth $1,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AMI Investment Management Inc. lifted its holdings in shares of Wells Fargo & Company by 7.7% during the second quarter. AMI Investment Management Inc. now owns 28,016 shares of the financial services provider’s stock worth $2,315,000 after buying an additional 2,003 shares during the last quarter. Independent Financial Group LLC grew its stake in shares of Wells Fargo & Company by 15.2% in the second quarter. Independent Financial Group LLC now owns 24,711 shares of the financial services provider’s stock worth $2,042,000 after acquiring an additional 3,263 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its stake in shares of Wells Fargo & Company by 0.7% in the second quarter. Matrix Asset Advisors Inc. NY now owns 218,006 shares of the financial services provider’s stock worth $18,016,000 after acquiring an additional 1,524 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC increased its position in Wells Fargo & Company by 18.2% during the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 15,493 shares of the financial services provider’s stock worth $1,280,000 after acquiring an additional 2,389 shares during the period. Finally, FSM Wealth Advisors LLC increased its position in Wells Fargo & Company by 83.1% during the second quarter. FSM Wealth Advisors LLC now owns 8,936 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 4,055 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of research reports. Bank of America increased their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, UBS Group lowered their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Stock Down 0.9%

WFC opened at $88.13 on Friday. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week 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 firm’s fifty day moving average price is $85.60 and its two-hundred day moving average price is $83.06. The company has a market capitalization of $266.51 billion, a P/E ratio of 12.81, a P/E/G ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. On average, analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s payout ratio is presently 29.07%.

Key Wells Fargo & Company News

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

• Positive Sentiment: Investors have been rotating from high-flying artificial-intelligence stocks into financial shares, creating broader momentum for banks such as Wells Fargo. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s investment case is strengthened by the expected removal of its asset cap, potential net-interest-income growth and shareholder capital returns. The stock has gained 20.5% over three months, though investors are evaluating whether that momentum can continue. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Positive Sentiment: The bank’s tokenized-deposit launch for corporate and commercial clients could expand payment and settlement capabilities, while new debt and preferred-share offerings support its broader post-asset-cap investment strategy. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?

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.