Wells Fargo & Company $WFC Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,852,010 shares of the financial services provider’s stock after purchasing an additional 215,578 shares during the quarter. California Public Employees Retirement System’s holdings in Wells Fargo & Company were worth $545,489,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Diversified Trust Co. boosted its position in Wells Fargo & Company by 59.7% during the 4th quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider’s stock worth $3,289,000 after purchasing an additional 13,196 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock valued at $49,610,000 after purchasing an additional 84,902 shares during the period. Swiss Life Asset Management Ltd raised its position in Wells Fargo & Company by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after purchasing an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Wells Fargo & Company by 4.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after purchasing an additional 17,302 shares during the period. Finally, Winning Points Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $3,384,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company News Summary

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday. Jefferies Financial Group assumed coverage on Wells Fargo & Company in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Robert W. Baird upped their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the company a “neutral” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company Trading Down 0.6%

NYSE WFC opened at $87.52 on Friday. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month 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 company has a market capitalization of $267.82 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company’s fifty day moving average price is $81.44 and its two-hundred day moving average price is $83.77.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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 company had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 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 6.4% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. As a group, research analysts predict that Wells Fargo & Company will post 7.12 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared 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 of this dividend 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%.

Wells Fargo & 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.