16,087 Shares in Wells Fargo & Company $WFC Bought by Baer Investment Advisory LLC

Baer Investment Advisory LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the first quarter, Holdings Channel reports. The firm purchased 16,087 shares of the financial services provider’s stock, valued at approximately $1,281,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lodestar Private Asset Management LLC boosted its holdings in shares of Wells Fargo & Company by 15.8% during the 1st quarter. Lodestar Private Asset Management LLC now owns 13,757 shares of the financial services provider’s stock valued at $1,095,000 after buying an additional 1,874 shares in the last quarter. First Dallas Securities Inc. grew its stake in shares of Wells Fargo & Company by 1.0% in the first quarter. First Dallas Securities Inc. now owns 19,989 shares of the financial services provider’s stock worth $1,591,000 after acquiring an additional 203 shares during the period. New York State Teachers Retirement System grew its position in Wells Fargo & Company by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 2,502,147 shares of the financial services provider’s stock worth $199,196,000 after purchasing an additional 21,811 shares during the period. Sierra Summit Advisors LLC increased its position in Wells Fargo & Company by 1,144.3% during the first quarter. Sierra Summit Advisors LLC now owns 64,059 shares of the financial services provider’s stock valued at $5,100,000 after acquiring an additional 58,911 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in Wells Fargo & Company by 6.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 168,758 shares of the financial services provider’s stock worth $13,435,000 after acquiring an additional 9,518 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Key Wells Fargo & Company News

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

• Positive Sentiment: Analysts recently lifted price targets on Wells Fargo, including a Morgan Stanley target of $102, reinforcing a constructive view on the bank ahead of earnings. Wells Fargo Stock (WFC) Opinions on Analyst Price Target Increases
• Positive Sentiment: Wells Fargo is benefiting from expectations that Q2 results could show improved earnings, with analysts forecasting EPS around $1.71 and revenue near $21.81 billion. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Investor sentiment was also helped by recent news that the stock rose after dividend hike news, pointing to continued capital return strength. Top Wall Street Forecasters Revamp Wells Fargo Expectations Ahead Of Q2 Earnings
• Positive Sentiment: Senator Mitch McConnell disclosed a new purchase of WFC shares, adding a modest political-sentiment boost. Congress Trade: Senator Mitch McConnell Just Disclosed New Stock Trades
• Neutral Sentiment: Recent commentary continues to compare Wells Fargo with other major banks as investors look for value and income opportunities, but this is more of a sector discussion than a company-specific catalyst. More Bang for Your Buck: Is Bank of America or Wells Fargo the Better Value-and-Income Buy?
• Neutral Sentiment: Some articles noted that Wells Fargo could benefit from potential tariff refunds and other non-operating gains, but the impact is still uncertain and not yet reflected in results. Wells Fargo (WFC) Could Get An Earnings Lift From Supreme Court Tariff Refunds
• Negative Sentiment: Longer-term concerns remain around Wells Fargo’s lagging return on equity and pressure on net interest margins, which could cap enthusiasm if earnings disappoint. Wells Fargo Stock Has Lagged Other Banks. Earnings Can Change That.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $85.49 on Friday. The business has a 50 day simple moving average of $80.05 and a two-hundred day simple moving average of $84.23. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $261.61 billion, a P/E ratio of 13.19, a PEG ratio of 0.98 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. JPMorgan Chase & Co. reduced their target price on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Finally, KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Two 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.34.

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.