Plancorp LLC Raises Position in Wells Fargo & Company $WFC

Plancorp LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 41.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,013 shares of the financial services provider’s stock after acquiring an additional 6,169 shares during the period. Plancorp LLC’s holdings in Wells Fargo & Company were worth $1,842,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WFC. Godfrey Financial Associates Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth $25,000. Miller Capital Partners Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Navalign LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $28,000. Finally, Phillip James Consulting Co. bought a new position in shares of Wells Fargo & Company in the 1st quarter worth about $28,000. 75.90% of the stock is currently owned by institutional investors.

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 Stock Down 0.9%

Shares of Wells Fargo & Company stock opened at $88.13 on Friday. The company has a 50-day simple moving average of $85.60 and a two-hundred day simple moving average of $83.06. The stock has a market capitalization of $266.51 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

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

Wells Fargo & Company Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on WFC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. UBS Group decreased their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Bank of America upped their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley raised their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Truist Financial lifted 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. Two equities research 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’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $98.61.

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.