Wells Fargo & Company $WFC Shares Acquired by Zhang Financial LLC

Zhang Financial LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 330.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,739 shares of the financial services provider’s stock after purchasing an additional 8,247 shares during the quarter. Zhang Financial LLC’s holdings in Wells Fargo & Company were worth $855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Finally, Core Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.6%

WFC opened at $87.52 on Friday. 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 business has a 50 day simple moving average of $81.44 and a 200-day simple moving average of $83.77. The stock has a market capitalization of $267.82 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.97 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 Dividend Announcement

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 $0.45 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 26.16%.

Analyst Ratings Changes

Several brokerages recently commented on WFC. Barclays cut 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 research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Keefe, Bruyette & Woods dropped their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday. UBS Group cut their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. 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. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $98.50.

Trending Headlines about Wells Fargo & Company

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

• Positive Sentiment: Wells Fargo reported stronger-than-expected Q2 results, with adjusted EPS of $1.96 topping Wall Street’s $1.72 estimate, driven by higher fee income, investment banking activity and net interest income. Wells Fargo CEO Says America Is Still Spending Big—Even With Inflation Concerns
• Positive Sentiment: Wells Fargo was upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about its earnings outlook and adding another bullish signal for investors. Wells Fargo (WFC) Upgraded to Buy: Here’s What You Should Know
• Positive Sentiment: Analysts remain constructive after the bank’s earnings beat, with industry commentary highlighting strong Q2 performance across major banks including Wells Fargo. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo also appeared in commentary noting that big bank earnings beat estimates, but some of the profit strength came from lower loan-loss reserves, which may be less repeatable going forward. Revving Up Returns: Big Banks Race Through the Rate Plateau (WFC)
• Neutral Sentiment: Wells Fargo’s housing-market index showed weaker homebuilder confidence in July, a modest macroeconomic headwind for the bank’s mortgage-related business. U.S. Homebuilder Confidence Unexpectedly Deteriorates In July

Wells Fargo & Company 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.