Wells Fargo & Company $WFC Stake Lowered by NWF Advisory Services Inc.

NWF Advisory Services Inc. cut its stake in Wells Fargo & Company (NYSE:WFC) by 21.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,426 shares of the financial services provider’s stock after selling 6,219 shares during the quarter. NWF Advisory Services Inc.’s holdings in Wells Fargo & Company were worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Wealth Group LLC grew its stake in Wells Fargo & Company by 2.5% in the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. increased its position in Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares during the last quarter. Simmons Bank raised its stake in shares of Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares in the last quarter. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock valued at $722,000 after buying an additional 120 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Wells Fargo & Company

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

• Positive Sentiment: Analysts expect Wells Fargo and other major U.S. banks to post earnings beats, with favorable operating trends such as strong trading activity, loan demand, and capital markets activity supporting the sector ahead of results. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: Wells Fargo stock has been gaining attention from analysts and hedge funds, with Wall Street maintaining a consensus Buy view and investors expecting continued upside if the bank shows renewed growth in Tuesday’s report. Looking to Buy Wells Fargo & Co (WFC) Stock? Listen to JPMorgan First
• Positive Sentiment: Pre-earnings coverage suggests one key metric in WFC’s report could show whether the bank is finally returning to growth, which is keeping traders focused on the stock into the earnings release. Wells Fargo Reports Q2 Earnings Tuesday Morning. Here’s the Number That Matters Most.
• Neutral Sentiment: Wells Fargo flagged tech concentration risk as earnings season begins, a reminder that concentrated exposure in markets and the broader macro backdrop could affect near-term sentiment. Wells Fargo flags tech concentration risk as earnings season kicks off
• Neutral Sentiment: Multiple previews note that Wells Fargo, JPMorgan, Goldman Sachs, and Bank of America report on the same day, setting up a high-profile earnings session that could drive sector-wide volatility rather than bank-specific movement alone. Wall Street Prepares For Four Top Banks To Report Earnings On The Same Day

Wells Fargo & Company Stock Up 0.4%

Shares of WFC stock opened at $87.54 on Tuesday. The stock’s 50 day simple moving average is $80.77 and its 200 day simple moving average is $83.91. 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 has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a market capitalization of $267.89 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.00 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during 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 for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. As a group, research analysts predict that Wells Fargo & Company will post 6.98 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America increased their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Barclays reduced their target price on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. increased their price target on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Finally, Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.34.

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.