Mission Wealth Management LP Acquires 17,301 Shares of Wells Fargo & Company $WFC

Mission Wealth Management LP grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 20.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,870 shares of the financial services provider’s stock after buying an additional 17,301 shares during the period. Mission Wealth Management LP’s holdings in Wells Fargo & Company were worth $8,501,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Hughes Financial Services LLC raised its holdings in shares of Wells Fargo & Company by 24.1% during the second quarter. Hughes Financial Services LLC now owns 664 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 129 shares during the period. Diversified Trust Co. increased its position in Wells Fargo & Company by 12.8% in the 2nd quarter. Diversified Trust Co. now owns 83,117 shares of the financial services provider’s stock valued at $6,869,000 after buying an additional 9,432 shares in the last quarter. Cary Street Partners Financial LLC increased its position in Wells Fargo & Company by 2.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 26,292 shares of the financial services provider’s stock valued at $2,173,000 after buying an additional 526 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in Wells Fargo & Company by 36.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 5,993 shares of the financial services provider’s stock worth $495,000 after buying an additional 1,588 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Wells Fargo & Company by 1.4% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 844,895 shares of the financial services provider’s stock worth $69,822,000 after buying an additional 11,316 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WFC shares. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Bank of America increased their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Raymond James Financial reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods decreased 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 note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo declared quarterly cash dividends on six series of preferred stock. The announcement provides clarity for income-focused investors and signals that the bank continues to support its preferred-capital structure. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
• Positive Sentiment: Recent analysis suggests WFC could be about 10% undervalued despite strong gains over the past three months, supporting the view that valuation may still leave room for additional appreciation. Wells Fargo Could Be 10% Undervalued After Preferred Dividend Declaration
• Positive Sentiment: Investors have been rotating from weaker-performing artificial-intelligence stocks into financials, creating a favorable sector backdrop for Wells Fargo and other banks. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s latest earnings exceeded expectations, with $1.96 in earnings per share and $22.62 billion in revenue, while revenue grew 8.6% year over year. Analysts continue to focus on potential net-interest-income growth, asset-cap removal and increased capital returns. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Neutral Sentiment: The bank is expanding its post-asset-cap strategy through tokenized deposits for corporate clients and new long-term debt and depositary-share offerings. The initiatives could improve payment capabilities and investment capacity, but their financial impact remains uncertain. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?
• Negative Sentiment: After a roughly 20% three-month advance, valuation and profit-taking risks could limit near-term upside, making investors more sensitive to execution on growth and regulatory milestones. Why Is Wells Fargo Up Since Last Earnings Report?

Wells Fargo & Company Trading Up 0.7%

Shares of Wells Fargo & Company stock opened at $88.74 on Friday. The firm has a market cap of $268.34 billion, a PE ratio of 12.90, a P/E/G ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year 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 stock has a fifty day moving average price of $85.73 and a 200-day moving average price of $83.10.

Wells Fargo & Company (NYSE:WFC) last posted 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 analyst estimates 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 revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

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.