Wells Fargo & Company (NYSE:WFC) Stock Purchased Sen. Mitch McConnell

Senator Mitch McConnell (Republican-Kentucky) recently bought shares of Wells Fargo & Company (NYSE:WFC). In a filing disclosed on June 30th, the Senator disclosed that they had bought between $1,001 and $15,000 in Wells Fargo & Company stock on June 1st.

Wells Fargo & Company Price Performance

NYSE WFC opened at $85.49 on Friday. The stock has a 50-day simple moving average of $79.95 and a 200 day simple moving average of $84.22. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The stock has a market capitalization of $261.61 billion, a PE ratio of 13.19, a P/E/G ratio of 0.99 and a beta of 0.92. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 EPS. Research analysts anticipate that Wells Fargo & Company will post 6.98 EPS for the current year.

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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

Key Stories Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo is expected to release Q2 earnings on July 14, with analysts looking for EPS of about $1.71 and revenue of $21.81 billion, setting up a potentially important catalyst for the stock. Article Title
• Positive Sentiment: Morgan Stanley raised its price target on Wells Fargo to $102 from $97 while keeping an Equal Weight rating, signaling improved valuation expectations. Article Title
• Positive Sentiment: Wells Fargo passed the Fed’s 2026 stress test and is planning a double-digit dividend increase, which supports the stock’s income appeal and may help attract yield-focused investors. Article Title
• Positive Sentiment: Several recent articles argue Wells Fargo could benefit from upcoming earnings, with bullish commentary centered on the stock looking inexpensive and having room to rerate if results surprise to the upside. Article Title
• Neutral Sentiment: Investor interest has increased, with Zacks noting Wells Fargo is being heavily searched as traders assess the next catalyst for the shares. Article Title
• Neutral Sentiment: Some coverage suggests Wells Fargo could receive a modest earnings lift from potential tariff refunds tied to a Supreme Court decision, though this is still uncertain and not yet reflected in prior estimates. Article Title
• Negative Sentiment: Analysts continue to flag that Wells Fargo has lagged peers because of lower returns on equity and falling net interest margins, which remain key concerns going into earnings. Article Title

Institutional Trading of Wells Fargo & Company

Institutional investors have recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. Finally, Phillip James Consulting Co. bought a new position in shares of Wells Fargo & Company during the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Evercore reissued an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 target price for the company. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler restated an “overweight” rating and issued a $94.00 price target (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.34.

About Senator McConnell

Mitch McConnell (Republican Party) is a member of the U.S. Senate from Kentucky. He assumed office on January 3, 1985. His current term ends on January 3, 2027. McConnell (Republican Party) ran for re-election to the U.S. Senate to represent Kentucky. He won in the general election on November 3, 2020. McConnell is the Senate minority leader in the 118th Congress. He became the minority leader when the Democratic Party gained a majority in the Senate in January 2021.McConnell previously served as Senate majority leader from 2015 to 2021. He was unanimously elected as majority leader by Republicans following the 2014 elections. Before that, he served as Senate minority leader from 2007 to 2015. As Senate majority leader, McConnell set records for the number of judicial nominees confirmed during the first two years of a presidency. As of July 2019, the Senate had confirmed two Supreme Court justices, 41 circuit court appeals judges, and 80 district court judges during President Donald Trump’s presidency. “To put that in context, that’s about one in five of the Courts of Appeals judges nationwide have now been appointed by this president and confirmed by this Senate in two and a half years. And I want you to know that my view is, there will be no vacancies left behind. None,” McConnell said in June 2019. McConnell previously worked as the Deputy U.S. Attorney for Legislative Affairs from 1974 to 1975 and as a judge-executive of Jefferson County, KY, from 1979 to 1985.

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.