Dickmeyer Boyce Financial Management Inc. Invests $1.21 Million in Wells Fargo & Company $WFC

Dickmeyer Boyce Financial Management Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 1st quarter, Holdings Channel reports. The fund acquired 15,220 shares of the financial services provider’s stock, valued at approximately $1,212,000.

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

Wells Fargo & Company Trading Down 0.2%

Shares of WFC opened at $86.24 on Friday. The stock has a fifty day moving average of $82.46 and a two-hundred day moving average of $83.48. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $263.91 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is presently 26.16%.

Analysts Set New Price Targets

A number of brokerages have commented on WFC. JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $86.50 to $93.50 and gave the company a “neutral” rating in a report on Monday, July 6th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 15th. Truist Financial lifted their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group started coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $98.50.

Wells Fargo & Company News Roundup

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?

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.