Keebeck Wealth Management Sells 8,077 Shares of Wells Fargo & Company $WFC

Keebeck Wealth Management trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 18.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,122 shares of the financial services provider’s stock after selling 8,077 shares during the period. Keebeck Wealth Management’s holdings in Wells Fargo & Company were worth $2,796,000 at the end of the most recent reporting period.

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

Wells Fargo & Company Stock Down 0.2%

NYSE WFC opened at $86.24 on Friday. The stock’s 50 day moving average is $82.46 and its 200 day moving average is $83.48. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The stock has a market cap of $263.91 billion, a PE ratio of 12.53, a P/E/G ratio of 0.94 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

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

More Wells Fargo & Company News

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?

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WFC. Jefferies Financial Group assumed coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price for the company. Barclays lowered their price target on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Two research 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, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

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.